Walmart gives soft outlook for the year after posting strong holiday quarter
Publishing timestamp: 2023-02-21 16:06:17
Summary
Walmart reported better-than-expected earnings for the holiday quarter, but gave a weaker-than-expected outlook for the year ahead. Walmart's CFO said shoppers are still buying fewer discretionary items, as grocery prices remain elevated. Home Depot also shared a muted outlook, expecting same-store sales to be approximately flat in the coming fiscal year. Walmart's share gains came from lower- and middle-income shoppers, and the company has made progress with the glut of unsold goods that piled up in store backrooms. Walmart's shares are up about 3% so far this year.
Sentiment: NEUTRAL
Keywords: earnings, nordstrom inc, business, breaking news: earnings, retail industry, home depot inc, united states, macy's inc, breaking news: business, walmart inc, business news,
Source: https://www.cnbc.com/2023/02/21/walmart-wmt-earnings-q4-2023.html