Walmart,
The largest retailer in the world, is facing financial difficulties as its profits have declined by roughly a quarter compared to last year. The company has struggled with declining popularity among customers and major holes in its business model. In September, Walmart announced a gloomy sales outlook for the final quarter of 2022 and stated that it anticipates adjusted profits per share to decline by 9% in this quarter and by up to 13% compared to the same period last year. The market reacted to this news by sending Walmart shares down 8% in one day, and the company's stock is currently trading below both its 50-day and 200-day moving averages, indicating that it is underperforming compared to its peers. Walmart's free cash flow for the third quarter was a negative $7.3 billion, and the company hasn't experienced negative cash from operations since 1995. The retailer is also slowing down on hiring for the holiday season, with a 73% decrease in seasonal hiring compared to last year.
