Tuesday morning's big earnings report was from Walmart, and the results have been trumpeted as impressive: Profits were up 5.7%. But a closer look at the numbers, and a careful consideration of recent retail history, suggests that the world's largest retailer is a fading giant.
Given the market's extreme and distressing gyrations over the past week, you'd be forgiven for thinking corporate earnings had been, on the whole, disappointing. But that's not actually the case: A large majority of public companies have performed quite well.
Walmart's numbers have been stagnating in the U.S. lately, but overseas in emerging markets, the world's biggest retailer has been coming on strong. Its stock has been hovering in the low $50s -- and you won't believe where Trefis puts its estimate for the real value of the low-price giant.