Walmart’s Stock Is Headed for an Epic Year as Target Slumps
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This week’s earnings reports from Walmart and Target are exacerbating the divergence in the retailers’ stocks in 2024.
Walmart shares have surged 66% this year and are on track to post their biggest annual gain since 1999. The stock notched a fresh record this week after the company’s strong earnings report. Meanwhile, Target shares are down 15%, driven in large part by a plunge on Wednesday after the retailer slashed its profit outlook.