Walmart reported first-quarter fiscal 2027 revenue of $177.8 billion. This 7.3% year-over-year increase beat analyst expectations.
The retailer issued a cautious forward-looking forecast due to inflation and high fuel prices. CFO John David Rainey announced plans to reinvest $2.4 billion in federal tariff refunds into store price cuts.
Walmart shares plunged over 7% following the outlook warning. The drop dragged the S&P 500 Consumer Staples sector down 1.6% as other discount retailers also declined in sympathy.