Walmart’s business looks to have stabilized after surging inflation for food and gas weighed on the company’s guidance a few weeks ago.
The world’s largest retailer revised its full year guidance for profits to drop 9% to 11% from a prior range for a 11% to 13% decline.
Walmart stock popped 4% in pre-market trading Tuesday following a 15 cents a share beat versus Wall Street profit estimates. Sales came in better than expected as well.
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