Big-box retailers have been making big headlines this week — some good, some bad. Costco (COST), for one, just posted June same-store sales that beat analyst expectations and the stock subsequently jumped near an all-time high around $115.
Meanwhile, the company’s rival Walmart (WMT) has much less to celebrate. The discounting behemoth has been in a feud with our nation’s capital over a wage bill being pushed through … and just lost.
Walmart had declared that it would cancel three of six new stores it had planned in the District if the “Large Retailer Accountability Act” — a law that requires retail stores making more than $1 billion per year at are at least 75,000 square feet large to pay their employees at least $12.50 an hour – went through. Legislators approved the bill anyway.
The discrepancy in Costco and Walmart is a prime example of the mixed bag presented by big-box retailers. Even as a few big names near all-time highs, others seem to be nearing death.
Let’s take a look at how six of the biggest names in the space have been faring, and where they’ll likely go from here.