
: Walmart, Target stocks diverge, highlighting difference between 'staple' and 'discretionary' labels #FinanceUSA #StockMarketNEWS Shares of Walmart Inc. rose 0.4% in midday trading Wednesday, adding
@stockMarketNEWS Thu 17 Nov, 2022
Walmart, Target stocks diverge, highlighting difference between 'staple' and 'discretionary' labels #FinanceUSA #StockMarketNEWS
Shares of Walmart Inc. rose 0.4% in midday trading Wednesday, adding to the previous session's 6.5% jump on a big earnings beat, even though so-called rival retailer Target Corp.'s stock tumbled 12.7% after another hugely disappointing earnings report. The divergence in stock moves appears to be primarily because while both are broadline retailers, they are actually part of very different sectors. As Stifel Nicolaus analyst Mark Astrachan noted, more than half of Walmart's sales are from the grocery category, which is why the company is labeled a consumer staple, which is considered defensive during economic slowdowns as it sells what consumer's need over what they want. But with only about one-fifth of Target's sales in the grocery category, Target is considered a consumer discretionary, which is more susceptible to economic slowdowns. Year to date, Walmart's stock has tacked on 2.2% and Target's has tanked 32.5%. Over the same time, the SPDR Consumer Staples Select Sector ETF , of which Walmart is a components, has slipped 4.3%, while the SPDR Consumer Discretionary Select Sector ETF has tumbled 30.1%, and the S&P 500 has shed 16.8%.
Munafa USA Munafa India Munafa NSE
More posts by @stockMarketNEWS

: Cresco Labs loss narrows but revenue falls #FinanceUSA #StockMarketNEWS Cresco Labs Inc. said Tuesday its third-quarter loss narrowed to .25 million from 3.5 million in the year-ago period, which
@stockMarketNEWS Wed 16 Nov, 2022

: Energizer swings to a net loss, but adjusted profit and sales top expectations #FinanceUSA #StockMarketNEWS Energizer Holdings Inc. swung to a net fourth-quarter loss, but reported Tuesday an adjusted
@stockMarketNEWS Wed 16 Nov, 2022
0 Comments
Sorted by latest first Latest Oldest Best
NSE Gainers NSE Losers BSE Gainers BSE Losers
Munafa NEWSTerms of Use Create Support ticket Your support tickets Powered by ePowerPress Stock Market News! Top Seo SMO © munafa.biz2023 All Rights reserved.