Walmart reported 4.1% U.S. comparable sales growth in its most recent quarter (the three months ended May 1), with CFO John David Rainey noting that customers filled their tanks with an average of less than 10 gallons per trip at Walmart gas stations for the first time since 2022, which he called “an indication of stress.” E-commerce sales (which include advertising revenue) grew 26%, with global e-commerce now representing nearly a quarter of Walmart's total sales, while net revenue rose 7.3% to $177.8B and net income grew nearly 19% to $5.3B. Walmart shares fell 7.1% to $121.54 intraday Thursday (its biggest decline since 2023) after the company left full-year expectations largely unchanged, while also filing for a refund estimated at roughly $2.4B from tariffs the U.S. Supreme Court deemed illegal.
