Walmart sees smaller profit drop as discounts draw inflation-hit shoppers ...Qatar

Walmart Inc nudged up its annual profit forecast yesterday, partly reversing a hefty cut less than a month ago, as discounts to clear excess merchandise and lower fuel prices helped it beat expectations for quarterly sales. The stock, which has fallen over 8% this year, rose 3.7% in pre-market trading. Shares of rivals Target Corp, Costco and Best Buy also climbed on the news, while futures for the blue-chip Dow index cut losses. Walmart said it now expected fiscal 2023 adjusted earnings per share to fall 9-11%. Last month, the top US retailer spooked markets across the globe when it forecast a drop of 11-13% — down from previous guidance for a 1% fall — and warned consumers were pulling ba

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