Investment bank: Walmart stock downgraded

Updated: Thursday, July 31, 2014
Investment bank: Walmart stock downgraded story image

(NEWSCHANNEL 3) - There is bad news for Walmart. One of the world's top investment banks says the retail giant is losing steam.

This week, Goldman Sachs downgraded Walmart stock to "neutral."

Analysts said the big-box chain is losing out to online retailers, and stores with more focused products.

Although it posts close to half a trillion dollars in annual sales, Walmart has seen sales drop for five straight quarters.

Experts blame stiff competition from Amazon, Costco and dollar stores.

U.S. | World News

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