Market Overview

Tuesday's Market Minute: Walmart Vs Amazon

Share:
Tuesday's Market Minute: Walmart Vs Amazon

While coronavirus still dominates headlines and market worries, traders should still be watching earnings reports as the season continues this week.

Walmart Inc (NYSE: WMT) released its earnings statement in the premarket today, disappointing on its comparable sales and forward guidance. The weaker sales may not come as a surprise to those who watched Target Corporation's (NYSE: TGT) earlier holiday sales report, where the company revealed softer demand for electronics and other categories. However, Walmart’s earnings suggest that across the big box sector, consumer demand during the holidays was lower: is the consumer weakening, or have Americans simply pivoted to Amazon.com, Inc. (NASDAQ: AMZN) en masse? Amazon reported record-level sales for its holiday quarter, but may be squeezed harder during the coronavirus outbreak, since many manufacturers and sellers are based in China.

Walmart stated its current forecasts didn't include any coronavirus impacts, but that may change down the line. If Walmart can avoid any headwinds from the disease, maybe it'll come out on top next quarter.

Image by HeikoAL from Pixabay

 

Related Articles (AMZN + TGT)

View Comments and Join the Discussion!

Posted-In: Earnings News Guidance Commodities Global Top Stories Markets Tech Best of Benzinga