Walmart Inc. (NYSE:WMT) shares are trading higher in the morning session on Wednesday.
Retail and consumer discretionary stock shares are trading higher after Target Corporation (NYSE:TGT) reported strong second-quarter results and raised its profit outlook.
Quarterly adjusted earnings per share totaled $2.57 (+40%), beating the street view of $2.20. Target reported sales of $25.45 billion (+2.7%), exceeding the analyst consensus of $25.229 billion.
"Our growth was driven entirely by traffic in stores and our digital channels, with double-digit growth in our same-day delivery services," said Brian Cornell, chair and chief executive officer of Target.
Target has raised its FY24 adjusted EPS outlook to a range of $9.00 to $9.70, up from the previous range of $8.60 to $9.60. This new outlook compares to an estimate of $9.36.
According to an SEC filing, Walmart has recently revealed plans to divest its stake in JD.com, Inc. (NASDAQ:JD), a major competitor to Alibaba.
As Walmart shifts its focus to its own operations in China, it seeks to raise up to $3.74 billion from the sale.
Also Read: Alibaba-Rival JD.Com Plummets Over 7% in Pre-Market After Largest Shareholder Walmart Sells Stake To Reportedly Raise $3.74B
The retail giant is offering 144.5 million American depositary shares, priced between $24.85 and $25.85, with Morgan Stanley serving as the broker-dealer.
Recently, the company announced strong second-quarter 2025 results and raised full-year guidance.
The retailer reported adjusted EPS of $0.67 (+9.8% Y/Y), beating the consensus of $0.64 and sales of $169.34 billion, surpassing the consensus of $168.57 billion.
Walmart expects third-quarter adjusted EPS of $0.51 to $0.52 versus a consensus of $0.55, and its net sales to grow 3.25% – 4.25% in CC.
Price Action: WMT shares are trading higher by 0.80% to $75.14 at last check Wednesday.
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