Shares of mega-retailer Walmart Inc. (WMT) are down 119% over the past year and 16.6% year-to-date to close yesterday’s trading session at $120.69. The recent price decline can be attributed to the company’s poor first-quarter results.
WMT’s operating income declined 23% year-over-year to $5.3 billion due to unfavorable economic conditions. The overall retail industry has been impacted severely by rising inflation, constrained inventories, and labor shortages.
