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Walmart’s Q2 Results
By Stephen Springham, senior retail analyst Planet Retail
After the horror show of Q1, Walmart had so much to prove domestically in Q2. And it has again come up short. A U.S. comp store decline of 0.3% was below earlier management of a 0.2% decline, guidance that was endorsed as recently as the Annual Shareholder Meeting in June. This marks the second quarter that U.S. comps have been both in negative territory and below guidance. Those accusing Walmart of ‘crying wolf’ in its bullishness (ourselves included) may feel vindicated.
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Target develops French pharmacy solution
Target stores in the French-speaking Canadian province of Quebec will feature pharmacies under the Brunet banner based on an agreement reached with the McMahon Distributeur pharmaceutique division of Canadian food and drug retailer Metro, Inc.
The agreement comes as Target is preparing to open the first of 25 stores this fall in Quebec. Target entered Canada earlier this year and plans to open a total of 124 stores in its first year of operation.