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.
For comments and feedback contact: editorial@rttnews.com
Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.