Walmart Inc cut its full-year profit forecast on Tuesday, signaling a bigger knock to the retail giant's profit margins from surging costs of everything from fuel to labor.
cut its full-year profit forecast on Tuesday, signaling a bigger knock to the retail giant's profit margins from surging costs of everything from fuel to labor.
These pressures reduced net profit by a quarter to $2.05 billion for the three months ended April 30. Walmart also tempered its second-quarter expectations, with earnings per share now expected to be flat to up slightly, compared to a low to mid-single digit increase previously.
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