Walmart Profit warning Is chilling the retail industry, but those who sell food and essentials should be better isolated from the harsh retail winter.
The largest US retailer on Monday telegraphed that double-digit food inflation is pinching consumer wallets more than previously expected. According to the company, operating profit for the quarter is expected to decline significantly by 13% to 14% year-on-year, down 1% from previous forecasts. This decline was primarily due to lower demand and retailers discounting general merchandise such as apparel. Overstock..
Walmart puts retailers at discounts
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