Walmart stock dropped 10.85% over the last five trading sessions. This marks one of the company's most severe declines in four years. Rising costs and a recent product recall impacted profit projections.
Walmart recalled Blackstone Parmesan Ranch seasoning due to potential salmonella contamination. No illnesses have been reported from the product to date.
The company may increase prices to offset significant fuel costs absorbed during the first quarter. These rising expenses continue to pressure Walmart's profit margins.