Walmart lifted its full-year sales and earnings forecast, but the stock still slid 4.5%. The big-box retailer ended Thursday as the Dow's biggest loser.
"It was about as good of a quarter as any retailer could have in any environment," he said on CNBC'sSimon, who ran Walmart U.S. from 2010 to 2014, cites Walmart's ability to engage shoppers with lower prices while absorbing tariffs as a key advantage.
"If you liked them yesterday, I don't know why you don't love them today. Topline is growing. They're expanding their margin," he said. "They are really hitting it on all cylinders."He suggested investors may have been hung up on Walmart's first earnings miss in more than three years — which was mostly driven by one-off expenses including restructuring costs and insurance claims.Simon hasn't always been bullish on Walmart's business. In May 2024, he told "Fast Money" that high-income shoppersBut that hasn't happened. Simon now contends the pull of cheaper prices and convenience of having groceries and general merchandise in one place as magnetic. "If they can keep those toplines going, and that's their forecast, they're going to be just a bear of a company," Simon said. Walmart shares are up 8% so far this year. However, they're about 7% below the record high hit on Feb. 14.for the Spotlight newsletter, a hand-curated collection of video clips selected by CNBC's top editors and producers. Your daily recap of top business highlights and leading stories.
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