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Core Viewpoint - The retail sector, particularly Walmart, is facing significant challenges due to the impact of tariffs, leading to increased costs and pressure on profit margins [1][2][3] Group 1: Walmart's Financial Performance - Walmart reported Q2 revenue of $177.4 billion, exceeding analyst expectations of $176.16 billion, but adjusted earnings per share were $0.68, below the expected $0.74, marking the first miss in three years [1] - Despite the profit miss, Walmart raised its full-year sales and profit guidance, expecting sales growth of 3.75% to 4.75%, up from a previous forecast of 3% to 4% [1] Group 2: Impact of Tariffs - The company has begun raising prices on certain imported goods to offset tariff costs, which has drawn criticism from President Trump [2] - Walmart's CFO indicated that while some costs have been absorbed, others have had to be passed on to consumers, with overall tariff-related costs continuing to rise [2] - A broader trend is emerging, with nearly one-third of U.S. businesses planning to raise prices in the next six months due to increased input and import costs [2] Group 3: Employment Market and Economic Outlook - The U.S. job market is showing signs of weakness, with initial jobless claims rising by 11,000 to 235,000, the largest increase since late May [3] - High unemployment rates may not fully reflect the underlying economic conditions, as labor demand is weakening and job vacancies are decreasing [3][4] - Economic forecasts suggest that the U.S. economy will continue to slow down, impacting consumer spending and overall economic health [3][4]