Walmart is in a slump. It reported a drop in Second Quarter profits and missed wall street earnings estimates and said growth for the full year wont be as strong as thought. On the bright side, more shoppers are shopping at walmart here in the u. S. And spending slightly more but costs are rising faster. Today, investors sent shares of the dow component down to a 52week low thinking walmart, the worst performer on the Dow Jones Industrial average for the day. Courtney reagan has more on the company that many consider to be a barometer of the consumer economy. Reporter while walmarts u. S. Comparable sales improved for the fourth straight quarter and sales traffic increased, it wasnt enough to keep the retailer from significantly lowering its full year earnings guidance. There are headwinds that cut into the quarter, many of which walmart expects to continue, including increased employee hours at now higher wages, lower reimbursements from prescription drugs. Walmart explains that shrin
Walmart is in a slump. It reported a drop in Second Quarter profits and missed wall street earnings estimates and said growth for the full year wont be as strong as thought. On the bright side, more shoppers are shopping at walmart here in the u. S. And spending slightly more but costs are rising faster. Today, investors sent shares of the dow component down to a 52week low thinking walmart, the worst performer on the Dow Jones Industrial average for the day. Courtney reagan has more on the company that many consider to be a barometer of the consumer economy. Reporter while walmarts u. S. Comparable sales improved for the fourth straight quarter and sales traffic increased, it wasnt enough to keep the retailer from significantly lowering its fl year earnings guidance. There are headwinds that cut into the quarter, many of which walmart eects to continue, including increased employee hours at now higher wages, lower reimbursements from prescription drugs. Walmart explains that shrink in
Walmart is in a slump. It reported a drop in Second Quarter profits and missed wall street earnings estimates and said growth for the full year wont be as strong as thought. On the bright side, more shoppers are shopping at walmart here in the u. S. And spending slightly more but costs are rising faster. Today, investors sent shares of the dow component down to a 52week low thinking walmart, the worst performer on the Dow Jones Industrial average for the day. Courtney reagan has more on the company that many consider to be a barometer of the consumer economy. Reporter while walmarts u. S. Comparable sales improved for the fourth straight quarter and sales traffic increased, it wasnt enough to keep the retailer from significantly lowering its full year earnings guidance. There are headwinds that cut into the quarter, many of which walmart expects to continue, including increased employee hours at now higher wages, lower reimbursements from prescription drugs. Walmart explains that shrin
Add war breaking out, will new Health Exchanges be up and running. And Risky Business unregulated banking is a 6 trillion dollar industry in china. It could cripple the worlds second largest economy. That and more tonight on nightly Business Report for tuesday, august 20th. Good evening everyone. The big buzz on wall street today, the strength of the american consumer. Four retailers came out with earnings and the results are mixed raising questions about how comfortable consumers are about spending and how that could impact the u. S. Economy. First up, home depot. Sales soared 11 helped by the turn around in housing. Sales are so good they uplifted the sales and earning look for the rest of the year. Barnes noble doubled, hurt by a 20 drop in sales by the nook e reader. J. C. Penney lasts tripled and sales dropped 11 as it tries to recover from Sales Strategies of the past. The Biggest Surprise is from best buy, earnings up a stunning 22 times from a year ago. It looks like the Electr
It could cripple the worlds second largest economy. That and more tonight on nightly Business Report for tuesday, august 20th. Good evening everyone. The big buzz on wall street today, the strength of the american consumer. Four retailers came out with earnings and the results are mixed raising questions about how comfortable consumers are about spending and how that could impact the u. S. Economy. First up, home depot. Sales soared 11 helped by the turn around in housing. Sales are so good they uplifted the sales and earning look for the rest of the year. Barnes noble doubled, hurt by a 20 drop in sales by the nook e reader. J. C. Penney lasts tripled and sales dropped 11 as it tries to recover from Sales Strategies of the past. The Biggest Surprise is from best buy, earnings up a stunning 22 times from a year ago. It looks like the Electronics Giant once left for dead enga neared a turn around that could be the envy of the sector. Courtney regan has more on the comeback. Reporter thi