Walmart Shares Sink 8% After Slowest U.S. Sales Growth Since 2020

BreakingBusinessWalmart Shares Sink 8% After Slowest U.S. Sales Growth Since 2020ByTy Roush,Forbes Staff. Ty Roush is a breaking news reporter based in New York City.Follow AuthorAug 20, 2026, 09:51am EDTToplineWalmart’s stock on Thursday slid after the retailer reported its slowest U.S. sales growth in years, despite beating Wall Street’s earnings expectations, as its pharmacy business took a hit amid federal negotiations that have cut drug prices.The world’s largest employer expects to pass on tariff refunds for lower consumer prices. Gado via Getty ImagesKey FactsShares of Walmart dropped 7.3% to around $105 shortly after trading opened Thursday, pacing the stock’s largest intraday loss since May 21 (7.2%).Walmart reported $187.9 billion in quarterly revenue and earnings per share of $0.81, exceeding FactSet consensus estimates of $186.6 billion and $0.74, respectively, and the firm raised its full-year guidance for sales and adjusted operating income.The retailer said U.S. comparable sales grew 2.6% through the quarter, offset by a 0.8% headwind to its pharmacy business as federal negotiations on medications covered by Medicare have lowered drug prices, marking the slowest quarterly sales growth since Q4 2020 (1.9%).Chief Financial Officer John David Rainey told Bloomberg that drug negotiations impacted Walmart’s business more than expected and the issue will likely persist into next year.Rainey also told CNBC that Walmart anticipates $2 billion in “incremental cost headwinds related to higher fuel prices” in 2026. if (!window.cnxel) { window.cnxel = {}; window.cnxel.cmd = []; var iframe = document.createElement('iframe'); iframe.style.display = 'none'; iframe.onload = function() { var iframeDoc = iframe.contentWindow.document; var script = iframeDoc.createElement('script'); script.src = '//cd.elements.video/player.js?cid=62cec241-7d09-4462-afc2-f72f8d8ef40a'; script.setAttribute('defer', '1'); script.setAttribute('type', 'text/javascript'); iframeDoc.body.appen...