Walmart Stock Slides As Amazon's Grocery Delivery Expansion Heats Up Price War And Challenges Margins
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Walmart's stock fell over 2.4% to $101.10 as Amazon expanded its grocery delivery service to all customers in over 3,500 cities, intensifying competition and pressuring margins. In response, Walmart broadened its employee discount to include nearly all grocery items, effective immediately. This move aims to enhance competitiveness against Amazon and Target amid rising food prices. Despite the stock drop, Walmart has seen a nearly 13% gain year-to-date, outperforming the S&P 500 Consumer Staples Sector Index.
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