https://www.bloomberg.com/news/articles/2022-07-25/walmart-cuts-guidance-for-second-quarter-and-full-year Walmart Inc. cut its annual profit outlook for the second time this year, citing the need to lower prices to clear out bloated inventories. Adjusted earnings per share will fall as much 13% in the current fiscal year as US consumers shift spending to necessities amid soaring inflation, Walmart said in a statement Monday. Two months ago, the company had said earnings per share would only dip about 1%. We’re now anticipating more pressure on general merchandise in the back half” of the year Operating income will fall 13% to 14% for the quarter and 11% to 13% for the full year, Walmart said. Comparable US sales, excluding fuel, are expected to rise about 6% for the second quarter, which Walmart said was higher than it had expected.
Lower prices to clear out bloated inventories should help with inflation
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