In this episode of The Canadian Investor Podcast, we break down the latest earnings from major U.S. retailers, Canadian banks, and one beaten-down software company.
We start with Walmart and Target, where the results show that the consumer may be starting to feel more pressure. Walmart continues to perform well overall, but its comparable sales growth slowed sharply, and management noted that higher gas prices are changing consumer behaviour. Target showed stronger comparable sales than expected, but both retailers are leaning on price cuts and grocery strength as discretionary spending remains under pressure.
We then turn to Canadian bank earnings, including Bank of Montreal, Scotiabank and National Bank. We discuss provisions for credit losses, improving margins, strong capital markets results, wealth management growth, and why the banks continue to deliver despite concerns about the Canadian economy.
Finally, we look at Intuit after its latest earnings, including the pressure facing TurboTax and Mailchimp, the continued strength of QuickBooks, and whether AI and pricing pressure are starting to disrupt parts of the business.
Tickers discussed: WMT, TGT, BMO.TO, BNS.TO, NA.TO, INTU, HD
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