Bloomberg Business of Sports lets you follow the money in the world of sports, reporting on trades, salaries, endorsements, contracts and collective bargaining. The show takes listeners inside the business end of the sports world, and explains what it means to fans and their pocketbooks.
Ashlee Vance explores innovations in new tech, software, engineering, and science in places outside of Silicon Valley.
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Brendan Case and
Allison Nicole Smith
Walmart Inc. fell after a surprise cut to its profit outlook that contrasted sharply with upbeat results early Tuesday from Coca-Cola Co. and McDonald’s Corp. Taken together, the business updates suggest consumers have little left over for discretionary goods as they spend more on food and fuel.
The retailer’s adjusted earnings per share will fall as much as 13% in the current fiscal year as US shoppers spurn big-ticket items and focus on buying less profitable groceries with consumer prices soaring, Walmart said Monday. Two months ago, the company said earnings per share would only dip about 1%. In February, it had predicted a modest increase.