Appeal Looming As Walmart Inc (WMT) Gets Green Light To Sell Hard Liquor In Texas

NYSE: WMT | Walmart Inc. Common Stock News, Ratings, and Charts

WMT – The retail giant has scored a legal victory, but an industry association plans to appeal.

Walmart Inc (NYSE:WMT) already sells beer and wine in Texas, but the retail giant wants to sell liquor too. The company has scored a legal victory that will allow it to do so, but an appeal is looming as a roadblock.  

ABC News has the details on Walmart’s liquor fight.

Walmart’s legal victory allowing it to sell hard liquor in Texas doesn’t mean people in the state will be able to go out and buy bottles of vodka and gin at the retail giant’s stores anytime soon.

An industry association representing Texas’ liquor store operators said Wednesday it will appeal the decision from Austin-based U.S. District Judge Robert Pitman, who found restrictions on liquor sales licenses enforced by the Texas Alcoholic Beverage Commission amounted to unconstitutional discrimination. Pitman issued his 50-page ruling Tuesday, but delayed its implementation until any appeals are resolved, and at least for 60 days.

While Walmart quickly applauded the ruling, the Texas Package Stores Association didn’t share the enthusiasm. The group, which joined the state’s fight, notes that the battle is far from over.

“We will appeal the trial court’s decision and continue to fight for family-owned liquor store owners against the world’s largest corporate entities that seek to inflate their profits by upending sensible state laws that protect both consumers and small businesses,” noted the group’s CEO, Lance Lively.

Walmart Inc shares were trading at $87.88 per share on Thursday morning, down $0.30 (-0.34%). Year-to-date, WMT has declined -10.48%, versus a 0.79% rise in the benchmark S&P 500 index during the same period.

WMT currently has a POWR Rating of C (Neutral), and is ranked #7 of 18 stocks in the Grocery/Big Box Retailers category.

WMT at a Glance

WMT Current POWR Rating™
Overall POWR Rating™
WMT Current Price $98.24 0.07%
More WMT Ratings, Data, and News

WMT Price Reaction

The day of this event (Mar. 22, 2018)
WMT Closing Price$85.17 1.18%
WMT Volume12,531,567
27.86% from avg
Leading up to this event
WMT 1-mo return4.38%
After this event
WMT 1-day return3.23%
WMT 3-day return2.48%
WMT 5-day return0.89%

WMT Price Chart

More Walmart Inc. Common Stock (WMT) News View All

Event/Date Symbol News Detail Start Price End Price Change POWR Rating
Loading, please wait...
View All WMT News
Page generated in 0.8933 seconds.