Walmart Gets Hammered by Worst Drop Since 1987 on Forecast Cut

TheStreet.com

Worried About Gas Prices? Walmart Is Too

Walmart had a rough day in the market after dropping its first quarter earnings results on May 17. The company was able to top revenue estimates, but rising costs, and other headwinds, caused a wide miss on Walmart’s bottom line and a big drop in shares. “While we’ve experienced high-levels of inflation in our international markets over the years, US inflation being this high and moving so quickly both in food and general merchandise is unusual,” CEO Doug McMillon said on Walmart’s earnings call.