Walmart shares fall upon disappointing forecast, fueling US spending worries

World's largest retailer expects inflation-weary consumers to pull back after shares hit record high of $105 last week

Walmart on Thursday forecast sales and profit for its latest fiscal year below Wall Street estimates, suggesting that the world's largest retailer expects inflation-weary consumers to pull back after several quarters of solid growth.

Walmart shares, which had risen about 72% in 2024 and hit a record high of $105 last week, were down 6% in early trading. Shares of its rival retailer Target were down 1.6%, with Amazon 0.9% lower.