The coronavirus pandemic (COVID-19) will haunt management of Walmart and Target TGT forever. Both companies cancelled their earnings guidance since nobody knows how long the scourge will keep us rooted to our homes. The situation created an extraordinary opportunity for each of them as they faced an invasion of customers looking to stay supplied with necessities and basic goods.
As a result, it’s no surprise that net sales and operating results were significantly affected by the coronavirus pandemic. There was unprecedented demand for products which resulted in strong top line results.