A look at the DFT Chart below gives a good explanation of why WMT stock has failed to make much progress since the pandemic: it is historically overvalued.

Source: https://seekingalpha.com/article/4608787-sell-alert-2-crowd-favorite-dividend-stocks-to-dump-and-2-replacement-stocks?source=feed_all_articles

Another strategy WMT uses to appeal to cost-conscious consumers during economic downturns is its focus on private-label brands.

Source: https://seekingalpha.com/article/4595947-walmart-wmt-primed-surpass-own-recession-performance-in-next-downturn?source=feed_all_articles

KR total returns are nearly 64% compared to nearly 74% for WMT.

Source: https://seekingalpha.com/article/4655578-kroger-q3-severely-undervalued-im-buying-dip?source=feed_all_articles

Walmart shares (NYSE: WMT) closed Friday at $166.19, up $2.27.

Source: https://talkbusiness.net/2023/11/walmart-expected-to-benefit-from-consumer-spending-diverse-revenue-streams/

WMT has a secular single-digit EPS and revenue growth, with revenue likely around mid single-digits, and EPS potentially in high single-digits or low teens.

Source: https://seekingalpha.com/article/4652192-walmart-earnings-preview-still-about-margins-target-results-probably-not-relevant?source=feed_all_articles