Loading chart...Here's the Walmart (WMT) historical stock price on an adjusted-close basis, covering approximately 6,700 trading days. The chart shows WMT's long-term price performance, reflecting steady appreciation with the most pronounced upward move over the past several years.

Walmart shares are down nearly 20% from their May highs, driven by a confluence of factors:

1. Slowing U.S. Comparable Sales Cleveland Research issued a bearish note in late June based on channel checks indicating that Walmart's U.S. same-store sales growth is decelerating. The firm flagged that Walmart is cutting prices to clear excess inventory, raising questions about near-term margins.

2. Tariff & Cost Headwinds Trump-era tariffs from early 2025 continue to pressure costs. While tariff refunds became available in April 2026, the offset may not fully cushion the impact. Higher oil prices — tied to the Iran conflict — are also squeezing both consumer wallets and Walmart's supply chain costs.

3. Cautious Forward Outlook Walmart's most recent quarterly report paired solid revenue with a softer-than-expected profit outlook for 2027, resetting investor expectations downward.

4. Stretched Valuation Even after the pullback, WMT traded at roughly 38x earnings for a company guiding to just ~4% revenue growth — leaving almost no margin of safety when growth concerns surfaced. Heavy institutional selling (Millennium, Qube, Jane Street) in Q1 2026 compounded the pressure.

Wall Street's view: Despite the selloff, analysts remain constructive — all recent ratings are Buy/Overweight with a median target around $140, implying meaningful upside from the $110 level hit in early July.

I'll need to pull comparable sales data from Walmart's SEC filings, since it's not part of standard financial statements. Let me search for it.Now let me compile the quarterly Walmart U.S. comparable sales data. I have data from Q1 FY22 (April 2021) through Q1 FY27 (April 2026). Let me organize this into a DataFrame for charting.

Loading chart...Here's Walmart U.S. comparable sales (YoY %) over the last 21 quarters — from Q1 FY22 (Apr 21) through Q1 FY27 (Apr 26).

Recent trend: Comp sales peaked at 9.4% in Q3 FY22 (inflation-fueled), then generally trended down into the 3–5% range in FY24–FY26. The latest reading of 4.3% in April 2026 (Q1 FY27) is solid but well off the highs. The Cleveland Research note flagged that comps appear to be slowing further heading into mid-2026, which aligns with the broader deceleration visible on the chart — from the 8%+ era of FY23 to a more muted mid-single-digit trajectory.