Retailers have plenty to worry about as food prices remain high, interest rates rise and student loan payments return. But Walmart and Target struck contrasting tones when speaking about the months ahead. Target CEO Cornell said sales trends improved in July, but not enough to keep the company from cutting its outlook for the year. When asked about back-to-school shopping, Cornell and Chief Financial Officer Michael Fiddelke stressed it was very early in the season. Walmart hit a more confident note. On the earnings call, CEO Doug McMillon said general merchandise sales outperformed the company's expectations. He said the popularity of GLP-1 drugs, medications such as Ozempic that are used for diabetes and weight loss, could also drive foot traffic and revenue going forward. And, he added, "the trends we see in general merchandise sales make us feel more optimistic about those categories in the back half of the year." McMillon said back-to-school has gotten off to a better start than the company predicted.