16 July
Walmart is challenging inflation concerns. Forecasts for the year have improved
Despite high inflation and supply chain challenges, Walmart, one of America's largest retailers, saw a significant increase in sales in the second quarter of this year. According to data announced by the company on Tuesday, the company's sales increased 8% year-on-year to reach $152.9 billion in the three months to the end of July. Analysts had forecast less growth.
At the same time, there was a drop in profits of almost 7% to $6.9 billion. Walmart is forecasting a slight decline in earnings for the year as a whole. These expectations were well received on Wall Street and were reflected in the stock's gain of almost 6% in early trading.
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