walmart Revenues and profits increased in the second quarter as retail giants benefited from price increases and consumers stepped up their shopping trips to stores.
Walmart on Tuesday said it was gaining market share in some categories such as groceries. Shoppers tackle inflation, And that some Covid-19-related costs have shrunk. But higher prices have made shoppers more hesitant to buy. Prioritize low-margin foods, eating up profits. Walmart also sells through excess inventory, leading to higher discounts.
Walmart’s revenue and profits rise as rising prices boost business
Source link Walmart’s revenue and profits rise as rising prices boost business