Walmart Shares Extend Decline After Rare US Sales Miss

Walmart Inc.'s quarterly sales fell short of expectations, a rare miss that's likely to stoke concern about the leading big-box retailer decelerating alongside a slow-growing US economy. Sales at US stores open at least a year, excluding fuel, rose 2.6% in the second quarter, shy of the lowest analyst estimate compiled by Bloomberg. That rate of growth hindered primarily by pricing pressure in its pharmacy business is the slowest in more than six years. Walmart shares fell as much as 10%, the most intraday since 2022, in New York trading on Thursday, erasing a modest year-to-date gain through the previous day's close. We get reaction from Poonam Goyal, Senior US Retail Analyst for Bloomberg Intelligence.