While the markets nervously await today's figures from the retail giant, few realize: behind the scenes a game is unfolding that could overturn perceptions of the real state of the American economy.

Walmart (NYSE:WMT) is not just releasing its quarterly report — it is revealing its cards in a strategic game where the stake is the future of retail.

The hidden lever: why margin is more important than revenue

Analysts forecast revenue of $164.5 billion and EPS of $0.58, which corresponds to the lower end of the company's own forecast.