Walmart Lifts Outlook Again, Stays Cautious on US Shoppers
- Company touts market-share gains from value, convenience
- Higher borrowing costs, student loans are coming headwinds
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Walmart Inc. raised its annual profit forecast again, but struck a cautious tone on consumers and the US economy.
Rising borrowing costs and the resumption of student-loan repayments will add to the strain on US household budgets in the coming months, Walmart said Thursday as it reported earnings for the three months ended in late July. After a strong first half of the year, the midpoint of the retailer’s profit forecast for the current quarter slightly trailed analyst estimates.