Customers at a Walmart on Nov. 28, 2013 in Alexandria, Va. Shares of Walmart fell more than 9% after the retailer reported the lowest quarterly comparable sales growth since 2020. File Photo by Michael Reynolds/EPA-EFE
Aug. 20 (UPI) -- Walmart on Thursday reported sales grew at their slowest pace in the retailer's latest fiscal quarter in six years, sending its shares down more than 9%.
In the second quarter ended July 31, comparable sales in the US, including stores and digital channels open for at least a year, were 2.6%, the smallest advance since 2020, Walmart said.
"Customers tell us they're still feeling some pressure," Walmart CEO John Furner said on an earnings call with analysts.
Walmart blamed the disappointing sales growth partly on new federal rules on drug pricing that cut the prices of several costly medications for those enrolled in Medicare.
