Walmart Sinks as Margins Show Pressure Amid Sales Boom
- Supply-chain woes stir anxiety even as retailer lifts outlook
- ‘Fighting inflation is in our DNA,’ McMillon tells analysts
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Walmart Inc. fell the most in almost nine months after the retail giant signaled that it’s bracing for more pressure from global transportation snarls despite a broadly positive outlook.
The company’s costs are rising more quickly than its prices, Chief Executive Officer Doug McMillon said Tuesday after the company reported third-quarter earnings. Gross margin, a broad measure of profitability, fell slightly in the quarter, dragged down in part by higher supply-chain expenses.