Walmart’s second earnings warning of 2022 says a great deal about the financial stresses U.S. consumers are increasingly seeing amid sky-high inflation, a bear market in stocks, and lofty gas prices.
The world’s largest retailer slashed its second-quarter and full-year profit outlooks late Monday owing to rampant inflation and a consumer retrenchment for discretionary items such as apparel. Walmart now sees full-year earnings tanking 11% to 13% compared to a prior estimate for a 1% drop.
“This…
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