(NYSE: TGT) recently posted its latest earnings report. For the first quarter of fiscal 2024, which ended on May 4, the retail-giant's revenue fell 3% year over year to $24.53 billion but still roughly matched analysts' expectations. Its comparable-store sales dropped nearly 4%, which marked the fourth consecutive quarter of declining comps.

On the bottom line, adjusted earnings per share (EPS) dipped 1% to $2.03 and missed the consensus forecast by $0.02. Target's stock stumbled after that disappointing report -- extending its 36% decline over the past three years -- as Walmart's (NYSE: WMT) stock rallied 37% during the same period. Let's review the four reasons Walmart outperformed Target by such a wide margin.

Image source: Walmart.

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Source Fool.com