Walmart to plow $2.9 billion tariff refund into price cuts as US sales cool — BigGo Finance

Walmart reported its slowest U.S. sales growth in over six years, with a 2.6% increase in comparable sales for the latest quarter. The company attributed this to higher gas prices due to the Iran war, which pressured household budgets. Walmart's stock fell over 9% on the news, its steepest one-day decline since 2022. Despite the slowdown, Walmart raised its full-year sales and profit outlook. Other retailers, including Lowe’s and Home Depot, also noted consumer caution due to economic uncertaint

U.S. markets declined as Iran sanctions and elevated gasoline prices impacted consumer spending. Walmart's shares fell 9.2% after reporting slow sales growth and warning of higher fuel costs. The Dow Jones dropped 1.32%, the S&P 500 lost 0.87%, and the Nasdaq fell 1%. The 30-year U.S. Treasury yield hit 5.25%, its highest since 2007, signaling investor concern. Bitcoin briefly surged 11.5% before yields rebounded. Fed minutes showed dissent over rate hikes, with inflation and borrowing costs as

Wall Street fell sharply, with the Dow dropping 703 points, as Walmart reported its slowest sales growth in six years, causing its shares to plunge 10%. John Deere shares rose 9% after raising its 2026 profit outlook, driven by strong construction sales. Starbucks is relocating corporate jobs to Nashville, investing $100 million in a new office.

Walmart plans to use a $2.9 billion tariff refund to lower prices on groceries, general merchandise, and apparel. The company reported mixed Q2 results, with net income of $6.4 billion but a 2.6% slowdown in U.S. store sales. Walmart's stock has fallen 20% since May. The refunds stem from illegal tariffs imposed in 2025, ruled unconstitutional by the U.S. Supreme Court.

Walmart reported a 5.9% revenue increase to $187.9B, with U.S. comparable sales rising 2.6%, the weakest since 2020. Target saw a 5.3% sales gain to $26.54B, with growth in discretionary categories. Walmart plans to use $2.9B in tariff refunds to lower prices, while Target highlights trendy products and new partnerships. Both companies saw growth in advertising and membership businesses.

Walmart reported its slowest U.S. comparable sales growth in six years, with shares down over 8%. Oil price increases and inflation concerns led to stock market declines, with the S&P 500 falling 0.9%. US unemployment claims dropped to 206K, and mortgage rates eased slightly to 6.65%.