(https://www.cnbc.com/2026/06/26/walmart-heir-chicago-bulls.html) is the financial equivalent of a smoke screen. While headlines celebrate the Walmart heir's sports investment, the actual business — the one that generates $175.7B in annual revenue — is getting crushed by the exact structural shift I've been tracking: middle-income consumers trading UP into premium, not DOWN into discount anymore. WMT's net margin tells the story.

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