Walmart warned that cautious spending by consumers could pressure profit margins $WMT
weaker-than-expected annual profits on Tuesday as soaring prices hit demand for home-improvement products.
"The consumer wants a deal. They want to save. They want the allure of savings and Walmart provides that," said McNew, whose firm holds about 350,000 Walmart shares. Still, investors and analysts both said that the type of environment that favors Walmart as a growing share of Americans feel the bite of inflation, CFRA analyst Arun Sundaram said.
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