August 16, 2022
ONE ECONOMY TO RULE THEM ALL:
Walmart's earnings are trying to tell us something about inflation, consumer sentiment, and whether we're headed for a recession (COLIN LODEWICK, August 16, 2022, Fortune)
On Tuesday, Walmart reported that its revenue rose 8.4% in the second quarter despite fears that the pandemic and inflation-related shifts in consumer behavior would hurt sales."We're pleased to see more customers choosing Walmart during this inflationary period, and we're working hard to support them as they prioritize their spending," said Walmart CEO Doug McMillon in a statement. He noted that the company has successfully reduced its inventory levels recently via markdowns, leading to a smaller profit margin despite sales growth.
Posted by Orrin Judd at August 16, 2022 5:43 PM