Saturday, September 30, 2023
  • Login
CEO North America
  • Home
  • News
    • Business
    • Entrepreneur
    • Industry
    • Innovation
    • Management & Leadership
  • CEO Interviews
  • Opinion
  • Technology
  • Environment
  • CEO Life
    • Art & Culture
    • Food
    • Health
    • Travel
No Result
View All Result
  • Home
  • News
    • Business
    • Entrepreneur
    • Industry
    • Innovation
    • Management & Leadership
  • CEO Interviews
  • Opinion
  • Technology
  • Environment
  • CEO Life
    • Art & Culture
    • Food
    • Health
    • Travel
No Result
View All Result
CEO North America
No Result
View All Result

Walmart Miss Earnings Expectations Dented by High Inflation

in News
Walmart miss earnings expectations dented by high inflation
Share on LinkedinShare on WhatsApp

Under pressure from fuel prices, higher inventory levels and overstaffing, Walmart missed its earnings expectations for the fiscal first quarter.

First-quarter earnings of $1.30 per share missed analysts’ average estimate by 18 cents. This was Walmart’s first quarterly profit miss in five quarters.

Total revenue rose to $141.57 billion from $138.31 billion a year earlier, above Wall Street’s expectations of $138.94 billion.

“Bottom-line results were unexpected and reflect the unusual environment,” Walmart CEO Doug McMillon said in a news release. He explained that U.S. inflation levels, particularly in food and fuel, created more pressure than the company forecast.

“We’re adjusting and will balance the needs of our customers for value with the need to deliver profit growth for our future,” McMillon said.

Inflation levels not seen in almost four decades in the U.S. are still impacting both consumer’s wallets and retailer sales.

Walmart´s inventories jumped 32% to $61.2 billion in the first quarter. The company expects net sales to increase about 4% for the full year after previously anticipating a 3% increase.

After announcing missing its earnings expectations, shares tumbled almost 7% in premarket trading, dragging down other retailers.

Higher wages and more staff coming back to pre-covid schedules are causing operating expenses to rise.

Tags: Walmart

Related Posts

Costco begins selling gold bars to customers
News

Costco begins selling gold bars to customers

Pending home sales sink to new low
Industry

Pending home sales sink to new low

Nike falls short of revenue expectations
Business

Nike falls short of revenue expectations

Epic games to lay off 16% of its staff
Management & Leadership

Epic Games to lay off 16% of its staff

Us consumer spending misses expectations in q2
Business

US consumer spending misses expectations in Q2

Weight loss drug prescriptions surge 300% in less than three years
Business

Weight loss drug prescriptions surge 300% in less than three years

Kia and hyundai issue recall on 3. 4 million vehicles
Business

Kia and Hyundai issue recall on 3.4 million vehicles

Peloton shares rise after lululemon partnership announcement
Business

Peloton shares rise after Lululemon partnership announcement

Uaw adds pressure for expanded autoplant strikes
Industry

UAW adds pressure for expanded autoplant strikes

Dow takes biggest dip since march
Industry

Dow takes biggest dip since March

No Result
View All Result

Recent Posts

  • Delta to modify changes to frequent flyer program
  • Mineral mining could affect US water supply
  • Netflix nixes DVD rental subscriptions
  • Costco begins selling gold bars to customers
  • Pending home sales sink to new low

Recent Comments

  • Juul Unveils Cutting-Edge Vaping Tech: Navigating FDA Uncertainties – iStreetPark Blog on Juul hopes FDA won’t ban its new high-tech vape
  • CEO North America, August - September 2023 - CEO North America on Interviews – CEO North America, October – November 2022
  • CEO North America, August - September 2023 - CEO North America on CEO North America, December 2022 – January 2023
  • CEO North America, August - September 2023 - CEO North America on Why Tech Companies Are Moving to Texas and Florida
  • CEO North America, August - September 2023 - CEO North America on CEO North America, February 2023 – March 2023

Archives

Categories

  • Art & Culture
  • Business
  • CEO Interviews
  • CEO Life
  • Editor´s Choice
  • Entrepreneur
  • Environment
  • Food
  • Health
  • Highlights
  • Industry
  • Innovation
  • Issues
  • Management & Leadership
  • News
  • Opinion
  • PrimeZone
  • Printed Version
  • Technology
  • Travel
  • Uncategorized

Meta

  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org

  • CONTACT
  • GENERAL ENQUIRIES
  • ADVERTISING
  • MEDIA KIT
  • DIRECTORY
  • TERMS AND CONDITIONS

Editorials –
stuart.james@ceo-na.com

Advertising –
advertising@ceo-na.com

NEW YORK

110 Wall St.,
3rd Floor
New York, NY.
10005
USA
+1 212 432 5800

 

MEXICO CITY

Paseo de la Reforma 296,
Floor 38
Mexico City
06600
MEXICO

HOUSTON

1201 Fannin St.
Suite 262
Houston, TX
77002
USA

  • CONTACT
  • GENERAL ENQUIRIES
  • ADVERTISING
  • MEDIA KIT
  • DIRECTORY
  • TERMS AND CONDITIONS

Editorials –
stuart.james@ceo-na.com

Advertising –
advertising@ceo-na.com

NEW YORK

110 Wall St.,
3rd Floor
New York, NY.
10005
USA
+1 212 432 5800

HOUSTON

1201 Fannin St.
Suite 262
Houston, TX
77002
USA

MEXICO CITY

Paseo de la Reforma 296,
Floor 38
Mexico City
06600
MEXICO

CEO North America © 2022 - Sitemap

No Result
View All Result
  • Home
  • News
    • Business
    • Entrepreneur
    • Industry
    • Innovation
    • Management & Leadership
  • CEO Interviews
  • Opinion
  • Technology
  • Environment
  • CEO Life
    • Art & Culture
    • Food
    • Health
    • Travel

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In