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Retail Giants Report Mixed Results | Business and Finance News
Description
Big grocery and retail giants delivered solid Q1 results, beating revenue forecasts by 1.5% overall, with stocks rising an average of 4.5%. Kroger saw modest growth and missed margin targets, dragging its stock down 12.2%. Target soared with 6.7% revenue growth and beat estimates, lifting its stock 2.5%. Walmart posted massive revenue growth but disappointed on earnings guidance, sending its stock down 17%. Costco led in revenue growth at 11.6%, though EBITDA missed, still managing a 7.1% stock drop.
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