Is this you? As a journalist, you can create a free Muck Rack account to customize your profile, list your contact preferences, and upload a portfolio of your best work.
Claim your profile
Articles by Brett Husslein
After Earnings, Is Walmart Stock a Buy, a Sell, or Fairly Valued?
Walmart released its fiscal second-quarter 2027 earnings report on Aug. 20. Here’s Morningstar’s take on Walmart’s earnings and stock. : $81.00 : ★★ Morningstar Economic Moat Rating : Wide Morningstar Uncertainty Rating : Medium Walmart’s quarter included US comparable sales growth of 2.6% on traffic and ticket growth of 1.5% and 1.1%, respectively. Adjusted operating income grew 10% when excluding a 7% boost from tariff refunds. Shares sank 9% on Aug. 20 after the results.
Domestic Scale and Sourcing Expertise Anchor Dollarama’s Narrow Moat Despite Competitive Angst
Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes.
Walmart Earnings: US Comparable Sales Hit Six-Year Low; Digital Scale Offers Cushion
: $81.00 : ★ Morningstar Economic Moat Rating : Wide Morningstar Uncertainty Rating : Medium Walmart’s WMT fiscal 2027 second quarter included US comparable sales growth of 2.6% on traffic growth of 1.5% and ticket growth of 1.1%. Adjusted operating income grew 10% when excluding a 7% boost from tariff refunds. Shares sank 9% on Aug. 20 after the results.
Target Earnings: Merchandising-Led Turnaround Gains Traction as Traffic Improves
: $121.00 : ★★ Morningstar Economic Moat Rating : None Morningstar Uncertainty Rating : High Target’s TGT second-quarter results included a 3.8% comparable sales increase and adjusted earnings per share of $4.11, up 100% year over year. Gross margin expanded 470 basis points to 33.7% on 370 basis points from tariff refunds, as well as fewer markdowns and more high-margin revenue streams.
Despite a Portfolio Evolution, George Weston Fails to Amass a Competitive Edge
Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes.
Expanding Pet Healthcare Ecosystem Fortifies Chewy’s Narrow Moat and Deepens Customer Engagement
Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes.
Wide-Moat AutoZone’s Retail Strength and Commercial Expansion Reinforce Its Aftermarket Edge
We believe AutoZone’s strategy of leveraging its dominant do-it-yourself retail core to fund aggressive expansion into the commercial do-it-for-me segment has been highly effective. Its roughly 7,700 locations across the US, Mexico, and Brazil serve as both retail storefronts and localized fulfillment hubs.
Entrenched Hub-and-Spoke Density Anchors Wide-Moat O’Reilly’s Dual-Market Dominance
O’Reilly Auto Parts’ strategy is anchored by its dual-market approach, successfully serving both do-it-yourself (DIY) customers and professional service providers (do-it-for-me, or DIFM). This balanced exposure, split almost evenly in terms of revenue composition, insulates the firm across economic cycles while providing a stable growth platform in a fragmented industry. The cornerstone of O’Reilly’s competitive positioning is its robust hub-and-spoke distribution network.
Wide-Moat Costco's Membership-Led Model and Global Playbook Cement Its Leadership in Value Retail
Costco’s strategy is built on a differentiated model for the mature, highly competitive retail industry. The firm earns most of its operating profit from membership fees, enabling it to sell merchandise at near-break-even prices. This reinforces its reputation as a price-leader, drives recurring traffic, and keeps renewal rates near 90%.
After Earnings, Is Walmart Stock a Buy, a Sell, or Fairly Valued?
Walmart WMT released its fiscal first-quarter earnings report on May 21. Here’s Morningstar’s take on Walmart’s earnings and stock. : $70.00 : ★ Morningstar Economic Moat Rating : Wide Morningstar Uncertainty Rating : Medium Walmart’s first-quarter results included 7.3% net sales growth and adjusted EPS of $0.66 (up 8.1%). Adjusted operating income grew 5%, navigating an incremental $175 million fuel cost hit, while global e-commerce and advertising revenue surged 26% and 37%, respectively.
Solid Execution Continues for BJ's Wholesale Club, but Lagging Scale Limits Competitive Edge
BJ’s Wholesale Club operates a membership-driven warehouse model that attempts to differentiate itself from larger rivals like Costco and Sam’s Club through a sharper focus on the weekly grocery shop and a smaller, more accessible pack-size strategy. Unlike its warehouse club rivals, BJ’s is deliberately concentrated along the East Coast (over 80%), where it benefits from dense population centers, shorter supply chains, and brand familiarity.
Walmart Earnings: Digital Growth Anchors Margins Amid Stretched Consumers
: $70.00 : ★ Morningstar Economic Moat Rating : Wide Morningstar Uncertainty Rating : Medium Walmart’s WMT first-quarter results included 7.3% net sales growth and adjusted EPS of $0.66 (up 8.1%). Adjusted operating income grew 5%, navigating an incremental $175 million fuel cost hit, while global e-commerce and advertising revenue surged 26% and 37%, respectively.
Wide-Moat Walmart Anchors Competitive Positioning Through Digital and Omnichannel Scale
Walmart is the largest retailer in the world, a byproduct of its standing as the low-price leader, generating more than $700 billion in annual sales. The firm doesn’t just have a physical store network but also a digitally enabled ecosystem centered on grocery, fulfillment, advertising, and membership.
Target Earnings: Traffic Surges, but Recovery Still Demands Heavy Investment
: $121.00 : ★★★ Morningstar Economic Moat Rating : None Morningstar Uncertainty Rating : High Target’s TGT first-quarter results featured a 5.6% increase in comparable sales and an adjusted EPS of $1.71 (up 32%). Gross margin expanded 80 basis points to 29%, driven by supply chain productivity, lower markdowns, and high-margin revenue streams like Roundel, partly offset by higher product costs.
eBay: GameStop Formally Launches a Bid to Take Over the E-Commerce Giant
: $67 : ★ Morningstar Economic Moat Rating : Narrow Morningstar Uncertainty Rating : High GameStop proposed acquiring eBay EBAY for $125 per share ($55.5 billion) in cash and stock, after building a 5% stake in the e-commerce operator. The cash portion of the tie-up is to be financed via $9.4 billion cash on hand and up to $20 billion in debt financing. EBay’s shares traded up 5% on the news.
Etsy's Strategic Reset Should Bolster Long-Term Margin Potential and Support Its Competitive Edge
Etsy’s strategy centers on operating a differentiated, asset-light, e-commerce marketplace connecting millions of buyers with artisans offering unique, handmade, and vintage goods. Unlike retail peers relying on rapid fulfillment and ubiquitous brands, Etsy leans into unbranded, noncommoditized inventory, carving out a niche that insulates it from direct price competition with behemoths like Amazon and Walmart.
Kroger's Defensive Reinvestments Continue but Lack the Power to Drive Durable Share Gains
As the largest US dedicated supermarket operator, Kroger should be equipped to navigate an increasingly competitive landscape. However, even as it captures 6% of the grocery retail market, we believe it lacks enduring intangible assets or the structural cost advantages of price-led giants like Walmart and convenience-focused rivals like Amazon.
Global Procurement Scale Anchors Wide-Moat TJX's Leadership In Off-Price Retail
We view TJX’s strategy as structurally advantaged, anchored in scaling off-price buying to deliver branded apparel and home fashions at prices generally 20%-60% below full-price retailers. The firm leverages a global vendor network, rapid inventory turnover, and a low-fixture store model to create a treasure-hunt experience that drives traffic across middle- to upper-income cohorts and economic cycles.
Etsy: Abandoning House of Brands Strategy Tempers Our Moat Rating to Narrow
: $70.00 : ★★★★ Morningstar Economic Moat Rating : Narrow Morningstar Uncertainty Rating : High Etsy ETSY is unwinding its pandemic-era strategy, marked by the 2025 sale of Reverb and the pending 2026 divestiture of Depop to eBay for $1.2 billion. Management contends this will enable it to refocus on the core artisan marketplace that connects roughly 87 million buyers with 6 million sellers.
eBay: Narrow Moat Endures as Refined Strategy and Digital Investments Buoy Profits
: $67.00 : ★ Morningstar Economic Moat Rating : Narrow Morningstar Uncertainty Rating : High Operating as a capital-light platform, eBay EBAY connects 135 million buyers with 18 million sellers globally. Facing intense competition and a lack of switching costs, the firm has pivoted away from transient shoppers toward highly engaged enthusiast buyers and recommerce to defend its marketplace.
Focus on Enthusiast Buyers and Investments in Advertising Fortify EBay's Moat
EBay’s strategy is anchored in its role as a global marketplace for enthusiast-led and resale inventory. We believe the firm is best positioned to gain share where breadth of supply, trust, and seller liquidity matter more than speed. With 135 million active buyers and 2.5 billion live listings, eBay retains relevance in categories where fragmented supply is difficult to replicate, such as collectibles, motor parts and accessories, and fashion.
Even as Etsy’s Edge Falters, Strategic Reset Poised to Improve Long-Term Margin Potential
Etsy’s strategy centers on operating a differentiated, asset-light, e-commerce marketplace connecting millions of buyers with artisans offering unique, handmade, and vintage goods. Unlike retail peers relying on rapid fulfillment and ubiquitous brands, Etsy leans into unbranded, noncommoditized inventory, carving out a niche that insulates it from direct price competition with behemoths like Amazon and Walmart.
Avoid This Overpriced Stock, Especially If You’re Worried About Inflation
Ross Stores ROST has been on a tear: The stock is up more than 60% during the past year. This wide-moat retailer’s off-price model has taken market share from mainstream department stores as new social media campaigns and in-store initiatives, like self-checkout pilots, are driving robust customer engagement. But we think this overvalued stock has gotten ahead of itself, especially if stubborn inflation leads consumers to pull back on discretionary spending.
Costco Earnings: Margin Expansion and Membership Growth Shine
: $650.00 : ★ Morningstar Economic Moat Rating : Wide Morningstar Uncertainty Rating : Medium Costco Wholesale’s COST fiscal-second-quarter results included 9.1% net sales growth, 6.7% comparable sales growth (ex-fuel), and a diluted EPS of $4.58 (up 14.0%). Digitally enabled sales rose 22.6%, while gross margins expanded 30 basis points to 12.8% even as disinflation on essentials like eggs and dairy took hold.
Target Earnings: Gross Margin Gains Offset Lingering Traffic Headwinds
: $118.00 : ★★★ Morningstar Economic Moat Rating : None Morningstar Uncertainty Rating : High Target’s TGT fourth-quarter results included a 2.5% decline in comp sales and adjusted EPS of $2.44, up 1.5%. Gross margin expanded 40 basis points to 26.6%, reflecting lower shrinkage and fulfillment costs and growth in advertising sales, while being partly offset by higher product and import costs.
After Earnings, Is Walmart Stock a Buy, a Sell, or Fairly Valued?
Walmart WMT released its fiscal fourth-quarter earnings report on Feb. 19. Here’s Morningstar’s take on Walmart’s earnings and stock. Walmart’s fourth-quarter results included 5.6% net sales growth and adjusted EPS of $0.74. The firm continues to benefit from widespread demand across income cohorts, while strength in digital and memberships helped lift gross margin by 10 basis points to 24.7%.
Walmart earnings: Growth in digital buoys margin amid consumer trade-down
Key Morningstar metrics for Walmart Fair Value Estimate: $62.00 Morningstar Rating: ★ Morningstar Economic Moat Rating: Wide Morningstar Uncertainty Rating: Medium What we thought of Walmart’s earnings Walmart’s WMT fourth-quarter results included 5.6% net sales growth and adjusted EPS of $0.74. The firm continues to benefit from widespread demand across income cohorts, while strength in digital and memberships helped lift gross margin by 10 basis points to 24.7%.
Walmart Earnings: Growth In Digital Buoys Margin Amid Consumer Trade-Down
Walmart’s WMT fourth-quarter results included 5.6% net sales growth and adjusted EPS of $0.74. The firm continues to benefit from widespread demand across income cohorts, while strength in digital and memberships helped lift gross margin by 10 basis points to 24.7%. Why it matters: Even with consumer wallets stretched, Walmart continues to attract shoppers by emphasizing convenience as much as price.
Strategic Adjustments Continue at Kroger, but Structural Disadvantages Limit Durable Share Gains
Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes.
Off-Price Dominance Endures for TJX as Procurement-Led Scale Anchors Its Wide Moat
Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes.
Costco Earnings: Digital Focus Gains Traction Amid Strong Results
Costco Wholesale’s COST first-quarter results featured 8.2% net sales growth, 6.4% comparable sales, and diluted EPS of $4.50. Digitally enabled comparable sales rose 20.5%, while artificial-intelligence-enabled pharmacy initiatives helped drive a 20-basis-point improvement in gross margin (13.1%). Why it matters: Costco is showing it can layer digital and AI capabilities onto its warehouse model.
Dollar General: Rebounding Fundamentals Support a Return to Consistent Performance
Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes.
Walmart's Wide Moat Holds Firm as Digital Investments Bolster Competitive Positioning
Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes.
After Earnings, Is Walmart Stock a Buy, a Sell, or Fairly Valued?
Walmart WMT released its fiscal third-quarter earnings report on Nov. 20. Here’s Morningstar’s take on Walmart’s earnings and stock. Walmart’s third-quarter results included 5.8% net sales growth and adjusted earnings per share of $0.62. The firm continues to benefit from broad-based demand across income cohorts, while strength in digital and memberships helped lift gross margins up 19 basis points to almost 28% for Walmart US.
Walmart Earnings: Digital Momentum Buoys Margin as Consumers Seek Value; Shares Expensive
Walmart WMT‘s third-quarter results included 5.8% net sales growth and adjusted earnings per share of USD 0.62. The firm continues to benefit from broad-based demand across income cohorts, while strength in digital and memberships helped lift gross margins up 19 basis points to almost 28% for Walmart US. Why it matters: Despite strained consumer spending, Walmart bucks the trend as shoppers flock to the store due to its value proposition—convenience at a low price.
Walmart Earnings: Digital Momentum Buoys Margin as Consumers Seek Value; Shares Expensive
Walmart WMT‘s third-quarter results included 5.8% net sales growth and adjusted earnings per share of $0.62. The firm continues to benefit from broad-based demand across income cohorts, while strength in digital and memberships helped lift gross margins up 19 basis points to almost 28% for Walmart US. Why it matters: Despite strained consumer spending, Walmart bucks the trend as shoppers flock to the store due to its value proposition—convenience at a low price.
Target Earnings: Weak Traffic Amid Tepid Consumer Spending Pinches Results
Target’s TGT third quarter included a 2.7% comp sales decline and adjusted EPS of $1.78, down 4.00%. Ongoing softness in discretionary categories and lower store-originated sales (down 3.8%) weighed, partly offset by growth in online sales (up 2.4%). Why it matters: The quarter reinforced our thinking that Target’s path to recovery remains investment-heavy and execution-dependent.
Walmart: CEO Transition Should Keep Strategy on Track
Walmart WMT announced that CEO Doug McMillon will pass the torch to current Walmart US CEO John Furner on Feb. 1, 2026. McMillon will stay on the board until June 2026 and remain as an advisor to Furner through January 2027. Why it matters: We view this as an orderly, internally driven succession that maintains strategic continuity rather than signaling a shift in direction. McMillon departs after a period of strong growth.
Target’s Lack of Moat Exposes Margins to Ongoing Mix Headwinds and Competitive Pressures
Target’s strategy revolves around leveraging its domestic store base (which sits at around 2,000 stores) as both shopping destinations and fulfillment hubs, supported by a curated mix of discretionary categories and essential staples. We believe the model effectively enhances convenience and cost efficiency, yet it relies more on operational execution than structural advantage, offering little to distinguish Target in a market defined by price leadership and convenience.
Walmart’s Wide Moat Endures as Digital Investments Reinforce Competitive Standing
Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes.
Show More
loading
Actions
Is this you?
As a journalist, you can create a free Muck Rack account to customize your profile, list your contact preferences, and upload a portfolio of your best work.Get in touch with Brett
Contact Brett, search articles and posts on X, monitor coverage, and track replies from one place.
Learn more about Muck Rack