[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"content-doc-dcio883bb8dc":3},{"user":4,"document":8,"mainDocument":27,"columnUrl":29,"subscription":30,"footer":42,"text":80},{"isAuthenticated":5,"isAdmin":5,"displayName":6,"avatarUrl":6,"nid":6,"groupLevel":7},false,"",-10,{"id":9,"fullTitle":10,"subTitle":6,"url":11,"columnId":12,"columnName":13,"columnUrl":14,"summary":6,"contentHtml":15,"mainContentHtml":6,"posterUrl":16,"createDate":17,"displayDate":18,"displayDateSlash":19,"pageviews":20,"tags":21,"hidden":5,"isSubContent":5,"replyDocOrTargetId":6,"contentType":23,"videoId":6,"liveVideoUrl":6,"useContentVideo":5,"duration":24,"price":24,"priceText":25,"priceBadgeText":25,"priceBadgeClass":26,"freeForMinGroupLevel":24,"redirectUrl":6,"readyToStream":5},"dcio883bb8dc","沃尔玛(WMT)美国Q2销售增速不及预期-多家华尔街机构仍保持乐观-杰富瑞：核心经营趋势依然稳健","\u002Fdoc\u002Fdcio883bb8dc","col18178739ee","美股资讯","\u002Fcol\u002Fcol18178739ee","\u003Cp>\n\u003C\u002Fp>\u003Cp>\u003Cspan>美股投资网获悉，周四，沃尔玛(WMT)股价大跌超9%，该公司第二季度美国市场销售增速低于市场预期，同时第三季度利润指引表现疲弱，引发投资者对公司短期增长前景的担忧。不过，包括杰富瑞、加拿大皇家银行资本市场、瑞银和Evercore ISI在内的多家华尔街机构仍对沃尔玛保持乐观看法，认为销售放缓更多受到特定业务和宏观因素影响，公司市场份额增长趋势并未发生明显变化。\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>财报显示，沃尔玛美国业务同店销售额同比增长2.6%，低于市场普遍预期。与此同时，公司给出的第三季度利润指引也令投资者失望。\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>在财报电话会议上，沃尔玛管理层表示，公司正在主动下调部分商品价格，希望借此进一步扩大市场份额。这也意味着，公司短期利润表现可能受到价格投资的影响。\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>杰富瑞分析师Corey Tarlowe指出，虽然沃尔玛美国同店销售额仅增长2.6%，剔除健康与保健业务后，同店销售增幅达到3.4%。健康与保健业务受到药品最高公平价格监管相关通缩影响，因此拖累了整体销售增速。\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>杰富瑞认为，沃尔玛的核心经营趋势仍然稳健，交易量持续增长，公司在多个品类继续扩大市场份额，同时电商、广告、第三方平台以及会员业务均保持强劲表现。因此，杰富瑞维持对沃尔玛的“买入”评级。\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>加拿大皇家银行资本市场分析师Steven Shemesh同样维持乐观看法。他指出，如果剔除关税退款因素，沃尔玛营业利润仍实现接近10%的增长。虽然投资者可能会质疑，在美国业务当前增速下，公司是否仍值得较高估值，但RBC认为，这更多反映整体宏观经济环境，而不是沃尔玛市场份额增长正在放缓。\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>RBC认为，与其他零售商相比，沃尔玛仍拥有结构性竞争优势，未来营收和利润均存在较长的增长空间。\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>瑞银分析师Michael Lasser表示，此次财报可能进一步引发市场围绕沃尔玛估值和增长前景的争论，但该行仍然看好公司。\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>Evercore ISI则继续维持“跑赢大市”评级。分析师Greg Melich指出，沃尔玛销售增长实际上达到此前指引区间上端，同时公司将全年销售增长预期上调至4.0%至5.0%。\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>Evercore认为，目前利润增长轨迹更多反映沃尔玛主动进行价格投资、争夺市场份额，而不是消费者需求出现明显问题。换言之，公司正在利用自身规模和盈利能力，通过降价进一步强化竞争优势。\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>尽管华尔街多家机构继续看好沃尔玛的长期基本面，低于预期的美国销售增速以及疲弱的第三季度利润指引仍令投资者短期承压。市场接下来将重点关注沃尔玛的降价策略能否进一步推动客流和市场份额增长，以及这一策略将对利润率产生多大影响。\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>最专业的美股资讯,推荐美股大数据 \u003Ca href=\"https:\u002F\u002FStockwe.com\u002F\">https:\u002F\u002FStockwe.com\u002F\u003C\u002Fa>\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>如何识别美股市场异常波动？美国机构主力资金买卖情况，出货和吸筹，使用美股投资网VIP会员，2008年成立于美国硅谷，由前纽约证券交易所分析师Ken创立，联合多位摩根斯坦利分析师，谷歌 Meta工程师利用AI和大数据，配合十多年美股实战经验和业内量化模型，建立了一个股市数据库 \u003Ca href=\"https:\u002F\u002FStockWe.com\u002F\">https:\u002F\u002FStockWe.com\u002F\u003C\u002Fa> 每天处理千万级股票数据：捕捉期权大单，实时主力资金流向、机构持仓变化、川普突发新闻，精准交易信号第一时间发到您手机APP！\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003C\u002Fp>","https:\u002F\u002Fwww.tradesmax.com\u002Fimages\u002Fa_Stock\u002FS\u002FSPY\u002FSPY.jpg","2026-08-21T13:13:27","2026.08.21","2026\u002F08\u002F21",55521,[22],"SPY","Article",0,"免费","success",{"id":9,"fullTitle":10,"subTitle":6,"url":11,"columnId":12,"columnName":13,"columnUrl":14,"summary":6,"contentHtml":15,"mainContentHtml":6,"posterUrl":16,"createDate":17,"displayDate":18,"displayDateSlash":19,"pageviews":20,"tags":28,"hidden":5,"isSubContent":5,"replyDocOrTargetId":6,"contentType":23,"videoId":6,"liveVideoUrl":6,"useContentVideo":5,"duration":24,"price":24,"priceText":25,"priceBadgeText":25,"priceBadgeClass":26,"freeForMinGroupLevel":24,"redirectUrl":6,"readyToStream":5},[22],"\u002Fcol\u002Fstocknews",{"visible":5,"marketingHtml":31,"services":32,"recentDocuments":41},"\u003Cfigure class=\"image\">\u003Ca 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buy@TradesMax.com 美国电话 626-378-3637","公司介绍","\u003Cp class=\"MsoNormal\">美股大数据 \u003Ca href=\"https:\u002F\u002Fstockwe.com\" rel=\"noopener\">StockWe.com\u003C\u002Fa> 是一个美国领先的金融和美股信息大数据提供商，紧盯华尔街金融市场和行情，2008年成立于美国硅谷，创始人是前纽约证券交易所资深分析师Ken，联合多位摩根斯坦利分析师，谷歌 Meta工程师利用AI和大数据，配合十多年美股实战经验和业内量化交易模型，每天处理海量股票数据：挖掘潜力大牛股，捕捉期权异动大单，实时主力资金流向、机构持仓变化、川普突发新闻，美股买卖信号第一时间发到您手机APP。\u003C\u002Fp>","专业美股投资者都在这里",{"loading":81,"search":82,"searchPlaceholder":82,"hotContent":83,"draft":84,"noData":85,"searchNoData":86,"courseContent":87,"more":88,"buyNow":89,"subscribeNow":90,"encoding":91,"paidContent":92},"Loading...","搜索","热门内容","草稿","目前没有任何内容公布","当前检索内容没有数据","课程内容","更多","立即购买后观看","- 立即订阅 -","视频编码中...","付费内容"]