KNOWLEDGE is POWER / REAL NEWS is KEY
New York: Monday, August 08, 2022
© 2022 U-S-NEWS.COM
Online Readers: 341
New York: Monday, August 08, 2022
Online: 326
Donald Trump's new social media platform "TRUTH Social" Join the Waiting List - Click here
tagreuters.com2022binary_LYNXMPEI6O0X7-VIEWIMAGE

MONEY & BUSINESS: Walmart cuts profit forecast, blames food and fuel inflation

Website 👉 https://u-s-news.com/
Telegram 👉 https://t.me/usnewscom_channel

NEW YORK (Reuters) -Walmart Inc on Monday said it was cutting its forecast for full-year profit, due to higher sales of lower-margin food products and price cuts to sell inventory in the United States.

Shares of the nation’s largest retailer were down 8% in trading after the bell.

Adjusted earnings per share for the second quarter will decline around 8% to 9% and full-year earnings will fall 11% to 13%. Excluding divestitures, full-year earnings per share are expected to drop 10% to 12%, the company said in a statement.

“The increasing levels of food and fuel inflation are affecting how customers spend … we’re now anticipating more pressure on general merchandise in the back half,” Doug McMillon, Walmart’s chief executive officer, said.

The spiking costs of food is affecting shoppers’ ability to spend on general merchandise categories and requiring more price cuts to move through the inventory, particularly apparel, Walmart said.

The company, however, raised its forecast for Walmart U.S. comparable sales, owing to a double-digit inflation in food prices, which it said was higher than at the end of the last quarter.

    It now expects comparable sales excluding fuel to rise about 6%, up from its prior guidance of 4% to 5% growth.

(Reporting by Siddharth Cavale in New York and Deborah Sophia in Bengaluru; Editing by Anil D’Silva and Lisa Shumaker)





Source link

(Visited 4 times, 1 visits today)
KNOWLEDGE is POWER / REAL NEWS is KEY
Woke & Liberal News is Fake News
You will find it on:
CNN - CBS - MSNBC - ABC - The New York Times - The Washington Post - Facebook - Twitter and more
They ALL SUCKS and simply DO NOT tell you the truth PERIOD

WARNING! If you usually get your news from one of these so-called "News Services" Welcome to you, but be prepared for big surprises!
eg. 2+2 is not 5 or 22 but 4 - There is not 57 different genders, only 2
KNOWLEDGE is POWER / REAL NEWS is KEY
Help your friends, family and the truth by sharing this article.

PGlmcmFtZSB3aWR0aD0iNjQwIiBoZWlnaHQ9IjM2MCIgc2Nyb2xsaW5nPSJubyIgZnJhbWVib3JkZXI9IjAiIHN0eWxlPSJib3JkZXI6IG5vbmU7IiBzcmM9Imh0dHBzOi8vd3d3LmJpdGNodXRlLmNvbS9lbWJlZC8ydEZzdEJzNjFQRTUvIj48L2lmcmFtZT4=
IMPORTANT!

Latest Video
PGlmcmFtZSBpZD0ib2R5c2VlLWlmcmFtZSIgd2lkdGg9IjY0MCIgaGVpZ2h0PSIzNjAiIHNyYz0iaHR0cHM6Ly9vZHlzZWUuY29tLyQvZW1iZWQvJTQwQWxleEpvbmVzQ2hhbm5lbD9mZWF0dXJlPWxhdGVzdCIgYWxsb3dmdWxsc2NyZWVuPjwvaWZyYW1lPg==

PGlmcmFtZSB3aWR0aD0iNjQwIiBoZWlnaHQ9IjM2MCIgc2Nyb2xsaW5nPSJubyIgZnJhbWVib3JkZXI9IjAiIHN0eWxlPSJib3JkZXI6IG5vbmU7IiBzcmM9Imh0dHBzOi8vd3d3LmJpdGNodXRlLmNvbS9lbWJlZC9CWDhmdW1VR2pRTUQvIj48L2lmcmFtZT4=
THIS IS IT!!!

Latest Video
PGlmcmFtZSBpZD0ib2R5c2VlLWlmcmFtZSIgd2lkdGg9IjY0MCIgaGVpZ2h0PSIzNjAiIHNyYz0iaHR0cHM6Ly9vZHlzZWUuY29tLyQvZW1iZWQvJTQwUlQ/ZmVhdHVyZT1sYXRlc3QiIGFsbG93ZnVsbHNjcmVlbj48L2lmcmFtZT4=

Livestream
PGlmcmFtZSBpZD0ib2R5c2VlLWlmcmFtZSIgd2lkdGg9IjY0MCIgaGVpZ2h0PSIzNjAiIHNyYz0iaHR0cHM6Ly9vZHlzZWUuY29tLyQvZW1iZWQvJTQwUlQ/ZmVhdHVyZT1saXZlbm93IiBhbGxvd2Z1bGxzY3JlZW4+PC9pZnJhbWU+

Want The Real News
and join millions of other active users
×
Show
×
Show