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Walmart’s Q2 performance surpassed that of Target, with sales of $177.4 billion, a nearly 5% year-over-year increase, despite earning $0.68 per share, missing expectations of $0.73. In contrast, Target reported Q2 sales of $25.11 billion, a decline from $25.45 billion the previous year, with earnings per share (EPS) of $2.05, missing projections of $2.09.
Walmart’s Positive Outlook
Walmart has raised its full-year revenue growth guidance to 3.75%-4.75% and adjusted EPS to $2.52-$2.62. The company highlighted a 25% surge in global e-commerce sales during Q2 and a 46% spike in advertising revenue. Conversely, Target maintained its fiscal outlook, anticipating a low-single-digit decline in sales and EPS between $7.00-$9.00.
Leadership Change at Target
Target CEO Brian Cornell will step down in February after 11 years, transitioning to executive chair, with COO Michael Fiddelke set to take over. This shift may signal a recalibration in Target’s operational strategy as it struggles to keep pace with competitors.
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