Walmart’s former U.S. CEO Bill Simon finds Thursday’s stock drop puzzling, despite the retailer raising full-year sales and earnings forecast. Simon praises Walmart’s ability to engage shoppers with lower prices and absorb tariffs. He sees the decision to raise guidance as a reason for optimism, despite recent earnings miss due to one-off expenses.

Simon, who also serves on other boards, believes Walmart’s appeal lies in its ability to offer cheaper prices and convenience in one place. He predicts Walmart will continue to be a strong company if they maintain their forecasted growth. Walmart shares are up 8% this year, but still below the record high hit in February.

Overall, Simon remains bullish on Walmart’s business, emphasizing the company’s potential if they can sustain their current growth. He dismisses concerns about high-income shoppers returning to premium retailers, highlighting Walmart’s strong appeal to consumers seeking value and convenience.

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