NEW YORK, July 26, 2026, 13:07 EDT — U.S. markets closed.
- Walmart rose 1.0% Friday to $109.47 but lost 4.2% for the week.
- Its trailing P/E is 38.4, versus Target NYSE:TGT at 18.1 and Costco Wholesale NASDAQ:COST at 47.0.
- Preliminary, unconfirmed estimate: Walmart’s bettergoods range may approach 1,000 products, up from 300 at launch.
Walmart shares recovered on Friday. The bounce still left them down 4.2% for the week, trailing both major retail peers.
That gap sharpened a valuation question. Investors still pay 38.4 times earnings for Walmart despite the pullback.
Fresh demand data offer one defense. Value retailers grew sales 11.6% from January through May, versus 2.3% for conventional chains. The 9.3-point gap extended across income groups.
| Company | Friday close | Friday move | Weekly change | Trailing P/E |
|---|---|---|---|---|
| Walmart NASDAQ:WMT | $109.47 | +1.0% | -4.2% | 38.4 |
| Target NYSE:TGT | $136.78 | +1.7% | -2.0% | 18.1 |
| Costco Wholesale NASDAQ:COST | $935.03 | +1.0% | -0.6% | 47.0 |
Weekly changes compare July 17 with July 24 closes. Figures are rounded.
Walmart’s multiple is more than twice Target’s. It remains about 18% below Costco’s. That places Walmart between a conventional mass merchant and retail’s premium valuation leader.
The private-label push is central to that middle position. A June note from RBC Capital Markets analyst Nik Modi estimated that bettergoods could reach nearly 1,000 items. Walmart has not confirmed that figure.
Modi described private brands as moving “from a defensive tactic to a core growth strategy.” Walmart launched bettergoods with 300 products in 2024. Reuters
“Shopping smart has become a mindset, not a customer segment,” chief merchandising officer Julie Barber told Reuters. The comment points to broader demand than a standard recession trade-down. Reuters
Walmart U.S. CEO David Guggina said bettergoods has attracted new customers, especially higher-income shoppers. Company data also showed upper-income households led first-quarter market-share gains.
The same quarter delivered 4.1% U.S. comparable-sales growth. U.S. e-commerce rose 26%, while global advertising revenue climbed 37%. Those channels give the expanded assortment more ways to reach shoppers.
Competition is building. Target plans 600 private-label food and beverage additions over two years. Its owned brands already account for about 30% of sales.
Next week’s first retail read comes from Amazon.com NASDAQ:AMZN, which reports Thursday. Its North American retail and advertising trends will frame the digital comparison.
The Federal Reserve meets Tuesday and Wednesday. U.S. second-quarter GDP and June consumer-spending data arrive Thursday. Both can shift household-demand expectations and equity valuations.
Walmart’s own second-quarter report is scheduled for August 20. Investors will need evidence that share gains are holding without heavier price investment.
Risks remain clear. A sharper slowdown could require deeper promotions. A rebound in discretionary spending could also weaken trade-down gains. At 38.4 times earnings, even a modest miss may carry weight.
Friday’s bounce changed little. The weekly decline narrowed the price, not Walmart’s execution hurdle.
