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Walmart shares slide as retailer gives a cautious outlook about consumer spending - TL;DR CNBC

Walmart shares slide as retailer gives a cautious outlook about consumer spending

Publishing timestamp: 2023-11-16 12:16:12


Summary

Walmart shares dropped after the company offered a cautious outlook on consumer spending, despite beating earnings and revenue estimates for the fiscal third quarter. The company saw a rise in revenue due to its grocery and e-commerce businesses. However, Walmart expects a weaker holiday shopping season and anticipates lower-than-expected earnings per share for the year. The company also mentioned the possibility of deflation in the coming months, which could benefit customers but impact sales.


Sentiment: MIXED

Tickers: WMTTGT

Keywords: retail industryearningswalmart incbreaking news: businesstarget corpbreaking news: earningsbusinessbusiness news

Source: https://www.cnbc.com/2023/11/16/walmart-wmt-earnings-q3-2024-.html


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