Needed that... Trade war drama has been hitting markets. Then Walmart reported earnings and dropped a mic — it's still the #1 company by sales in America (by almost 2x as much as #2).
You can shop for just about anything in this report... Investors took it as a signal that the tariff-palooza worries might not be as impactful as feared.
- Revenue and profits beat expectations: They came in at $130B and $3.6B.
- Ecommerce is Walmart's favorite child: The chain's epic 1-day shipping promise for 75% of the US population helped boost online sales up 37% (that's pretty good).
- Offline shopping's not too shabby, either: Every store was cranking out sales numbers about 2.8% bigger than the same time last year. Plus, the white collars at Walmart think the next quarter will have equally strong growth.
Houston, we have no demand problem (yet)... We've got a paradox right now: economists and bond investors predict an economic recession, but you're seeing awesome econ stats like 3.7% unemployment and growing GDP. Because Walmart's so engrained nationwide, its numbers are another reading from the economic thermometer that things are healthy-ish in the economy.
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