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Walmart and Target Sell Off: What Does It Mean for Costco?

Jennifer Saibil, The Motley Fool
·4-min read
Walmart and Target Sell Off: What Does It Mean for Costco?

Retail giants Target (NYSE: TGT) and Walmart (NYSE: WMT) released first-quarter earnings last week, and what their investors saw in the reports led the markets into a further nosedive. Target stock has plummeted about 28.5% since its report after trading roughly flat for the year, and Walmart stock is down 17.5% since its report, erasing what had been a positive 2022 for the stock. Disillusioned investors are letting the disappointing results influence their view of Costco Wholesale (NASDAQ: COST), sending its stock price down about 13% last week as well.

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