No, we are not headed for another recession, short of a political crisis.
Walmart’s business model has some flaws. They can’t/won’t stock shelves consistently. The customer demographic is often disgusting. The shopping effort to reward ratio is increasing.
Who cares? There’s Costco, Trader Joes and Amazon.
As for recession, we had relentless oil price hikes in 2008 which caused everyone to step back, hunker down and see their finances when the dust settles.
We have nothing like that today.
I asked someone stocking shelves late at night in a Walmart how often they do this. He said that they have to stock the shelves every night because customers clear off the shelves during the day. Probably not every department is like that.
If Walmart is not doing so well, it could mean that people have more money now and don't want to put up with the factors you mention.