Why retailers disclose non-merchandise income by Q1 2027: 3 signals

retail profit growth

Walmart, Target and Amazon just posted profit growth running three to five times sales growth, driven by advertising, membership and marketplace fees rather than merchandise margin. Signals point to at least two more top-25 US retailers putting a standalone number on that income by the end of March 2027.

Walmart Q2 earnings land August 20: tariffs meet a $186bn quarter

Walmart Q2 earnings

Walmart reports second quarter fiscal 2027 results on August 20, with consensus near USD 186.77 billion in revenue and USD 0.74 adjusted EPS. The quarter is the first full period under the new Section 301 forced labor duties, and it closes a day before 50% tariffs on Canadian goods begin.