Retailer Rout Erased $500 Billion, Stirs Worry of More Ahead
- Walmart and Target plunged 19% and 29% respectively this week
- Dollar General, Macy’s and Costco have yet to report earnings
This article is for subscribers only.
The wild swings in consumer stocks this week that erased about $500 billion in market value are far from over with earnings reports from well-known retailers including Dollar General Corp., Macy’s Inc. and Costco Wholesale Corp. still to come.
Volatility in consumer stocks reached levels not seen since the early days of the pandemic-driven rout as retailers from Walmart Inc. to Target Corp. cut their annual profit forecasts and stoked concern over the impact of rising inflation and the challenge to pass on higher costs to consumers.