Walmart reports slowest sales growth

Walmart reported its slowest U.S. comparable sales growth in six years for the second quarter, with comparable sales rising 2.6% versus 4.1% in the prior quarter. Excluding the wellness category, which was impacted by federal United States — Medicare drug pricing regulations, comparable sales rose 3.4%, still below analyst expectations of 3.8%. The company's U.S. e-commerce sales grew 24%, slowing from 26% in the first quarter. Walmart's net income was $6.37 billion, or 80 cents per share, with adjusted EPS of 81 cents beating expectations of 74 cents. Total sales rose 5.9% to $187.94 billion, slightly above forecasts. However, Walmart issued cautious guidance for the third quarter and full year, with EPS and sales forecasts below analyst estimates. Shares fell 6% in premarket trading. The results are seen as a barometer of consumer spending, especially amid weak July retail sales data and growing consumer pessimism, partly due to price pressures from the conflict in Iran.