Walmart Is Making A Mockery Of The Retail Apocalypse — And Traders Are Betting It’ll Keep Soaring
There’s no denying that the retail apocalypse is sweeping America, leaving thousands of brick-and-mortar store closings in its wake. Apparently, someone forgot to tell Walmart. The biggest brick-and-mortar store of all is arguably doing better than ever, fresh off a blockbuster earnings report on Thursday that saw the company smash Wall Street estimates and post its best sales growth in more than eight years. The report sent the company’s stock surging 10%, demolishing its previous record high. But nothing in Walmart’s quarterly report piqued investor interest like the company’s decision to raise its full-year earnings guidance. In a market where money managers are increasingly interested in what’s next for a company, rather than what’s already happened, it’s the ultimate driver of positive sentiment. And the future certainly does look bright for Walmart, even in a retail landscape constantly under pressure from the online retail titan Amazon. Read more at Business Insider.
