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Walmart Tops Estimates But Issues Cautious Annual Outlook

  • Company predicts a second straight drop in annual earnings
  • Finance chief cites uncertainty on economic expectations
Bloomberg business news
WATCH: Walmar tCFO John David Rainey discusses fourth-quarter earnings, outlook, and consumer demand.Source: Bloomberg
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Walmart Inc. turned in another blowout quarter as more shoppers sought out its low prices, but the retailer offered a cautious outlook for the current fiscal year because of rising economic uncertainty. 

Consumers are getting squeezed as interest rates climb and savings rates fall, Walmart Chief Financial Officer John David Rainey said Tuesday. That threatens spending even as the company contends with pressures of its own, such as higher interest expense, taxes and the impact of its purchase of full ownership of a South African retailer and a US automation provider.