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Why Walmart Stock Plunged Today

TheMotleyFool

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Shares of Walmart (NYSE: WMT) sank 11.4% on Tuesday after the retail giant's profits fell short of investors' expectations.

Walmart's revenue rose 2.4% year over year to $141.6 billion in its fiscal 2023 first quarter, which ended on April 30. The gains were driven by a 3% rise in the retailer's U.S. comparable-store sales (excluding fuel) and a 10.2% jump in its Sam's Club comps.

Walmart's international net sales, however, decreased by 13%. The decline was due largely to the company's sale of its operations in the U.K. and Japan in the first quarter of fiscal 2022.

Source Fool.com

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