NEW YORK (AP) — Walmart had another quarter of strong sales that topped almost all expectations with its comparatively low prices proving a powerful draw for millions who have struggled with rising costs for housing, groceries and almost everything e
NEW YORK — Walmart had another quarter of strong sales that topped almost all expectations with its comparatively low prices proving a powerful draw for millions who have struggled with rising costs for housing, groceries and almost everything else.Walmart Inc. reported earnings of $4.5 billion, or 56 cents per share, in the three months ended July 31. That compares with $7.9 billion, or 97 cents per share, in the same period last year.
Hiring by U.S. employers fell surprisingly sharply in July and the unemployment rate rose for the fourth straight month with higher interest rates taking a toll on businesses and households. The strong U.S. economy has been a main driver of global economic growth and the U.S. jobs market has given Americans the financial wherewithal to keep spending.
The impact of those higher costs has begun to manifest itself in the performance of U.S. retailers and their sales.Walmart has stepped up discounts and during the most recent quarter, Walmart had 7,200 price rollbacks.. There was a 35% increase in the number of rollbacks on food items at Walmart.
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Walmart boosts outlook for the 2024 with bargains proving a powerful lure for the inflation wearyNEW YORK (AP) — Walmart had another quarter of strong sales that topped almost all expectations with its comparatively low prices proving a powerful draw for...
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