Categories: Business

Walmart Cuts Profit Outlook as It Lowers Prices to Move Goods

[ad_1]

Walmart warned that higher prices for food and fuel were causing consumers to pull back, an ominous sign for the U.S. economy that has relied on resilient household spending power through rising inflation.

The country’s largest retailer, which warned in May that it was stuck with too much unsold goods, said on Monday that it was having to cut prices to reduce merchandise levels at its flagship chain and Sam’s Club warehouse chain. The markdowns will cause the company’s profits to fall in the second quarter and fiscal year.

[ad_2]
Source link
Admin

Recent Posts

Kijangwin is the latest online video gaming provider

Kijangwin is your brand-new go-to destination for all things internet gaming. Whether you're an informal…

1 day ago

How to Style Trendy Clothes Effortlessly

Hey there, fashion enthusiasts! Are you ready to dive into the world of trendy clothes…

2 days ago

How to effectively recover your frozen/stolen funds from fraudulent platforms

Hey there! If you're reading this, there's a good chance you've found yourself in the…

2 days ago

Important things about Core 2 . 0 regarding Hemp Users

Hey there, hemp enthusiasts! If you've been on the hunt for the next big thing…

4 days ago

Exploring the Features and Benefits of Strio

Hey there! Have you ever found yourself tangled up in the world of communication and…

1 week ago

The Importance of Pre-Sale Pest Control: Ensuring a Smooth Home Transaction

Are you worried that hidden critters might derail your home sale? Selling a house can…

1 week ago