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Walmart Or Target: Which Is The Stronger Stock?

4 16 3
09.08.2022

Big-box retailers Walmart (NYSE: WMT) and Target (NYSE: TGT) are still trading at multi-year lows after gapping down following their most recent earnings reports.

Walmart is trading at July 2020 levels, after advancing 1.88% in the past week.

Last week, the company said it would lay off about 200 people from its corporate workforce.

In an interview with retail publication WWD, a Walmart spokesperson said, "We're updating our structure and evolving select roles to provide clarity and better position the company for a strong future. At the same time, we're further investing in key areas like e-commerce, technology, health and wellness, supply chain and advertising sales and creating new roles to support our growing number of services for our customers, suppliers and the business community."

It's still unknown as to whether Walmart is slashing its corporate workforce, as opposed to the in-store workforce. The company did not offer a reason for the layoffs, although it recently slashed its profit guidance for the current quarter and the full year, saying inflation is taking a bite out of discretionary spending on electronics and clothing. Naturally,........

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