Walmart Misses Out on 2021 Stock Rally That Has Boosted Target, Home Depot
- Retail giant misses out on rally buoying Target, Home Depot
- Wall Street flashes strongest buy sign in more than a decade
Shoppers walk in front of a Walmart store in San Leandro, California.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Walmart Inc., the engine of the world’s largest family fortune, is missing out on the stock-market rally that has propelled rivals to record highs this year. Veteran watchers of the mighty retailer are struggling to understand why.
The share price has risen just 1% this year through Wednesday, while the S&P 500 index has advanced 25%. That is Walmart’s worst lag compared with U.S. stocks since 2015, and the gap is wider still with other large retailers. Target Corp. has jumped 34% this year and Costco Wholesale Corp. is up 50%. Home Depot Inc. has surged 54% in a rally that lifted its market value above Walmart’s last month.