Walmart’s Q3 FY2027 U.S. comparable sales ex-fuel face a close contest between the 2.5–4% and 4–5.5% ranges, reflecting the 2.6% Q2 result that missed expectations after a ~125 basis point pharmacy deflation headwind under the Inflation Reduction Act. Traders are weighing continued unit volume and share gains against softer average ticket growth, elevated gasoline prices pressuring lower-income households, and ongoing price investments that supported FY2027 sales guidance of 4–5%. E-commerce momentum, advertising revenue expansion, and Walmart+ membership gains provide offsets, while the November 19 earnings release will clarify whether holiday demand and prior-year comps produce a rebound or sustained moderation in the low-to-mid single digits.