Walmart's (WMT) second quarter earnings results smashed analyst expectations. Rival Target (TGT) however, reported results that were mixed. Bernstein Senior Research Analyst Dean Rosenblum and LSEG Director of Consumer Research Jharonne Martis joined Yahoo Finance Live to discuss the retailers' results. Rosenblum says comparing the two retailers is 'something of a false equivalency.' 'They are very, very different businesses,' Rosenblum said, pointing out how Walmart has a more substantial food and beverage business than Target. 'In an environment where consumers are stretched and just trying to cover the essentials, a retailer like...Walmart who is the biggest grocer in the world is going to benefit tremendously,' Rosenblum said. Martis noted that more high-end consumers are shopping at Walmart and at TJX Companies (TJX) saying, 'the high-end consumer, who we've learned from the luxury retailers, is being more conservative.' 'They still want the best brands, but they want to pay significantly less for them,' Martis said, adding 'the American consumer, what's really enticing them, is those steep promotions.' When it comes to stocks to buy, Rosenblum has an 'outperform' rating on Target and a 'market perform' rating on Walmart. When asked to explain why, Rosenblum said 'Target is priced for desperation and Walmart is priced for perfection.' Click here to see more from the Yahoo Finance series 'Retail Evolution: The New Era.'
Going on a boating trip soon? Here are some hilarious scenarios you may encounterAs inflation jumps to 3.3 per cent in July, economists say uptick is bad news for BoC
OTTAWA — Canada’s annual inflation rate rose to 3.3 per cent in July, as economists warn the latest consumer price index report spells bad news for the Bank of Canada. The uptick in price growth comes after inflation tumbled to 2.8 per cent in June, falling within the Bank of Canada’s target range of between one and three per cent for the first time since March 2021.
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