Why Are Retail Stocks WMT, TGT, COST, AMZN Down Today? Source: Rawpixel.com | Shutterstock Retail stocks aren’t doing so hot on Tuesday and investors can look to commerce giant Walmart (NYSE: WMT ) when assigning blame. Walmart released its most recent earnings report today . In that report, the company cut its earnings per share guidance for the second quarter from flat to a slight increase to down 8% to 9% year-over-year. To go along with that, Walmart also cut its guidance for the full fiscal year. This has it expecting EPS to drop 11% to 13%. The retail chain’s prior estimate was for 2022 EPS to experience a 1% drop compared to 2021. Walmart contributes this decline in guidance to ongoing economic issues. Mainly, inflation is keeping customers from buying general products at its stores as they have to focus more on purchasing food. That’s resulted in the retailer cutting prices for general goods to better manage its inventory and move products. With Walmart being the largest retailer in the U.S., it makes sense that an economic warning from it would affect others in the space.