What's Going On With Walmart And Target Corp Stock On Tuesday?

Zinger Key Points
  • Walmart and Target stocks decline as they announce summer sales to compete with Amazon.
  • Both retailers aim to attract back-to-school shoppers with significant discounts.

Walmart Inc. WMT and Target Corp. TGT stocks are trading lower Tuesday after they announced their respective summer sale bonanzas to rival Amazon.Com Inc. AMZN.

Walmart is launching its largest savings event, “Walmart Deals,” from Monday, July 8, to July 11. Customers can shop thousands of deals on popular items, including electronics, home goods, toys, and travel essentials, perfect for the back-to-school season.

Walmart+ members will enjoy early access to the season’s best deals five hours before the event opens to all shoppers. The savings event will be accessible on Walmart’s website and app.

Also Read: Amazon Boosts Prime Benefits With Grubhub Partnership, Takes Aim At Walmart

The event follows Walmart+ Week, which concluded on June 23.

Additionally, Target announced the return of its biggest sale event, Target Circle Week, from July 7 to July 13. The event will offer exclusive savings on summer and back-to-school essentials, featuring discounts for members of Target Circle, the retailer’s free loyalty program.

Target Circle Week will include personalized bonuses and deep discounts on top summer items, as well as early savings on back-to-school and college essentials.

The retailer recently announced price reductions on about 1,500 frequently shopped items across various categories, with plans to lower prices on approximately 3,500 more items throughout the summer.

It is interesting to note that Amazon has scheduled this year’s Prime Day event for July 16 and July 17. Prime members will have access to millions of exclusive deals. The stock is trading up on Tuesday.

Spanning over 35 categories, such as electronics, kitchen, beauty, and apparel, Prime members can also request invitations to access invite-only deals expected to sell out. Megan Thee Stallion will kick off the event by announcing the dates in her latest music video and song, “It’s Prime Day.” Members can shop their favorite picks on Prime Day.

Price Actions: WMT shares traded lower by 2.34% at $67.29 at the last check on Tuesday. TGT is down 1.83% at $146.96.

Also Read: Amazon Aims to Outdo Walmart’s Retail Game, Boosts Cashierless Tech in Stores

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Image: Unsplash/ Rupixen.com

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