Walmart’s latest jobs report could be a boost for stocks, but it’s also potentially a sign of weakness for the retailer.
The retailer announced Friday that its second-quarter numbers showed a net loss of 1,300 jobs, or 2 percent, to 7,500.
Analysts were expecting a loss of about 2,000 jobs, a decline from a loss that was 5,600.
Walmart is now down roughly 10 percent year to date, and the company is already reporting the loss of more than 3 million jobs.
Walton is now forecasting an 8 percent loss in the third quarter, which is the first quarter for which it has posted a profit.
In the past year, Walmart has reported a loss every quarter.
On Monday, Wal-Mart reported a 6 percent decline in revenue and a net gain of 1.5 million jobs, in what is still the second quarter for the company.
Analysts are expecting a 1.7 percent drop in earnings in the fourth quarter, the company’s first quarter in a year that saw sales plunge by more than 5 percent.
Wal-Mart CEO Doug McMillon has repeatedly said he’s expecting “a positive quarter” for the holiday shopping season, and his company is targeting a sales gain of about 20 percent to offset the drop in revenue.
WalMart’s holiday sales were down by about 5 percent last year, the first year of record low-price promotions and lower-cost products.
In the first six months of the year, Walmart saw a gain of 9 percent, the best performance since the first half of 2009.
It’s a far cry from the 9 percent increase it saw in the same period a year ago.
While Walmart is still reeling from a $8 billion layoff and the loss in profits for the first time in five years, the holiday season should be a boon for stock prices.
The stock has soared this year, up more than 11 percent.
Shares of Wal-mart are up about 1 percent in the past month.
The company also reported that it posted a net profit of $3.3 billion, up from $2.4 billion in the first nine months of this year.
Analyzing the company through earnings, analysts believe that the company earned $4.4 million, a 3.3 percent increase.
Walter Pincus, the chairman and CEO of WalMart, is a former chairman of Microsoft.
He is also a major backer of Republican presidential candidate Donald Trump.