Business

Walmart Downgraded By Investment Bank

-
Bad news for Walmart.

One of the world's top investment banks says the retail giant is losing steam.

This week, Goldman Sachs downgraded Walmart stock to "neutral."

Analysts said the big-box chain is losing out to online retailers, and stores with more focused products.

Although it posts close to half a trillion dollars in annual sales, Walmart has seen sales drop for five straight quarters.

Experts blame stiff competition from Amazon, Costco, and dollar stores.

One economist with Belus Capital Advisors told CNN he expects Walmart as going to a "very, very dark place in the next five to ten years."

More Stories

Don't Miss

Latest News