Walmart Inc., the largest U.S. retailer by sales volume, is likely to say on November 15 that its profit has declined for the third consecutive quarter as inflation reduces demand and product reserves remain high.
Walmart probably earned a profit of $1.31 per share compared with the profit of the previous year’s quarter, which amounted to $1.45 per share. According to average assessments of Visible Alpha, the revenue will grow by 4.8% up to $147.2 billion.
The demand for expensive durable goods has decreased in recent months as inflation raises the prices and clients cut expenditures ahead of the possible recession. The problems with supply chains and correction after the early stages of the pandemic also caused the overstocking. It will probably be the reason for significant discounts in the lead-up to the holiday season. Walmart has already reduced its forecast for the fiscal year 2023.
Analysts expect that the general increase of like-for-like sales in the USA without fuel will be 4.1% and which is twice less than a year before.