Chillin' out till it needs to be funded
Markets were not happy with the all important and pretty positive 2.2% same store sales increase in Q2 from Walmart with Sam’s Club even going to an expected and delivered 4% increase in same store sales (both numbers excl. fuel). Sales growth of 7.2% internationally to $32B outside the US out of its $114.3 B global sales as also not happy enough for investors who expected the number to be $115 B and shares were trading down 3% on results day as always
The retailer upped expected EPS for the full year to $4.93, higher by 20 cents and got in $1.18 for the July ended quarter.
Housing Starts data also did not infuse much into the indices at the start despite a 746k higher housing permits number and freely available Golf properties with lots going for just $1 and small town houses converting outhouses and garages into rental properties highlighted by the WSJ as the saving graces of the quarter’s dismal reports with the MBA report down -5.5% after a -3.7% data for June negating the May 8% jump completely
The European recovery slipped further the Euro denying itself from 1.22 levels yet more was heard of the ESM facility and its constitution.