Bryan Gildenberg and Katherine Black discuss retail trends and what Walmart (WMT) earnings say about the consumer. The company absorbed some transportation costs and is seeing more apparel in its merchandise mix, Bryan notes. However, as Katherine points out, shoppers are hunting for value as gas prices pressure Americans at the pump. They also explain that higher-end consumers are finding ways to trade down. Bryan Gildenberg and Katherine Black discuss retail trends and what Walmart (WMT) earnings say about the consumer. The company absorbed some transportation costs and is seeing more apparel in its merchandise mix, Bryan notes. However, as Katherine points out, shoppers are hunting for value as gas prices pressure Americans at the pump. They also explain that higher-end consumers are finding ways to trade down.