Walmart Stock Rises to Nearly $1 Trillion Before Thursday's $187 Billion Earnings Test

The US Department of Justice has expanded its anti-trust probe into beef prices to include eight major retailers, such as Walmart and Costco, according to a DoJ post on X. The investigation, which began in May with four large meatpackers, now examines retailers' beef pricing strategies, profit margins, and purchasing arrangements since 2020. The DoJ seeks records and briefings from the companies to assess trends in beef prices, a critical concern for the American public.

The U.S. Department of Justice is investigating eight major retailers, including Walmart, Kroger, and Amazon, over beef pricing strategies. The probe, expanded from an earlier investigation into meatpackers, seeks details on pricing, costs, and wholesale arrangements. Tyson Foods previously settled a lawsuit for $82.5 million over beef price allegations, according to Reuters.

The U.S. DOJ is investigating Walmart, Costco, and other retailers for high beef prices, according to Reuters. The Trump administration has accused meatpackers of price manipulation. Tyson Foods settled a lawsuit for $82.5 million over beef price inflation claims. Beef prices have risen 5.4% year-over-year, per the BLS.

Walmart and Inspire Brands (Dunkin's parent) announced a deal to offer Dunkin' items for delivery alongside Walmart orders. The service will initially launch at 150 Dunkin' locations inside Walmart stores, expanding to most of Dunkin's 10,000 U.S. locations. Walmart's delivery network, which grew 48% last quarter, will facilitate the service. According to Walmart, 90% of the U.S. population lives within 10 miles of a Walmart store.

The DOJ expanded its beef pricing probe to include major retailers like Walmart, Costco, Amazon, and Kroger. The investigation, initially focused on meatpackers, now examines retail price surges. Tyson Foods previously settled a lawsuit for $82.5M over beef price allegations. US beef prices hit a record high in May, impacting consumers.

Walmart will invest $1.3B in a 1.5M sq ft fulfillment center in Carnesville, GA, creating 1,000 jobs. Construction starts late 2023, part of Walmart's network for 95% U.S. next-day shipping.