From Nasdaq:

Earnings for retail companies are up 43.1% from last year, with 89.5% beating estimates. Walmart’s Q4 earnings increased 5.4% from the year-earlier period on 5.7% higher revenues, while Target continues to struggle to gain investors’ confidence. The Q4 earnings growth of +43.1% is mostly thanks to Amazon, whose earnings increased 410.9% from last year.

Q4 earnings for the S&P 500 index are currently expected to be up 5.5% above the year-earlier period on 3.2% higher revenues. This would follow the +3.8% increase in index earnings in 2023 Q3 on +2.3% higher revenues.
We don’t see this margin (or revenue) outlook as unreasonable or out-of-sync with the economic ground reality.

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Read more: Zacks Earnings Trends Highlights: Walmart, Target and Amazon