It's not zero sum. Yes, the blowout numbers from Walmart (WMT) are extraordinary. It's a huge company. One hundred million people shop there each week.
But to suggest that few others are doing well in the segment and then to extrapolate that Amazon (AMZN) could be a loser is ridiculous.
My hat is off to Doug McMillon for a dazzling quarter. Whether it be grocery or basics or Sam's, it really came together. I would put some of this on the "macro" and some of it is just on the amount of money that is left to go around now that there isn't that much spending on homes or cars.
But I think it's the stores that really matter. Doug has figured out how to capitalize off of brick and mortar. He's got a much better website. They have changed up service to where the workers seem, well, happier, which makes sense given the jump in pay.
In short, just a job well done. But not to the exclusion, say, of a Home Depot (HD) which, to me just glares as a solid buy here.