The world’s biggest retailer Walmart (WMT:NYSE) is set to report its second-quarter earnings on 21 August.

Investors will be hoping for more of the same from this bellwether stock, which reported steady revenue growth and operating income in the first quarter, even as it drew the ire of the Trump administration for warning of a tariff impact (15 May). Significantly online sales moved into profitability for the period.

Over the past year Walmart shares have gained 50% and are currently trading close to the 52-week high of $105.30 achieved on 14 February this year. 

The retailer which sees 270 million customers and members visit more than 10,750 stores each week, has outperformed peers such as Costco Wholesale (COST:NASDAQ), Kroger (KR:NYSE) and Target (TGT:NYSE).

First-quarter worldwide e-commerce sales were up 22%, membership and other income was up 3.7%, including 14.8% growth in membership income.

There was also strong growth in advertising for the company in the first quarter, including a 31% increase in Walmart Connect sales.

The company is expecting net sales to increase 3.5% to 4.5% on a constant currency basis in the second quarter, while keeping its 2026 outlook unchanged.

UBS analysts expect the retailer will demonstrate underlying momentum in its second-quarter earnings, despite economic headwinds with strong performance in grocery, health and wellness, and e-commerce.

Walmart is also expected to show it is managing tariff-related price increases and managing costs effectively with general merchandise performance being a key focus. A price to earnings ratio approaching 40 times means the group has little margin for error when it reports. 

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21 August: Dollar Tree, Intuit, Marvell, Walmart, Workday

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