Walmart Inc. (WMT) cut its profit outlook for the second-quarter and fiscal year 2023, saying that high food and fuel prices are hurting customer's ability to spend on general merchandise categories. The company anticipates more pressure on general merchandise in the back half.
".. Food inflation is double digits and higher than at the end of Q1. This is affecting customers' ability to spend on general merchandise categories and requiring more markdowns to move through the inventory, particularly apparel," the company said in a statement.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.