Walmart shares tumble on weakest US sales growth in six years, soft profit outlook

Walmart shares dropped 8% following the weakest US sales growth in over six years and a soft profit outlook. For the second quarter ending July 31, US comparable sales across stores and digital channels rose by 2.6%, marking the smallest increase since 2020. The company reported that rising gas prices have negatively impacted shoppers, contributing to the slowed growth. These financial results have led to a significant decline in the company's stock market performance.