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Inflation Causes Walmart to Lower Expectations for 2023

Inflation Causes Walmart to Lower Expectations for 2023

Walmart's (NYSE: WMT) fiscal first-quarter 2023 results revealed a resilient consumer, but also how rising inflation is biting into profit margins for the world's largest retailer. In its first quarter of fiscal 2023, which ended April 30, Walmart reported net sales of $141.6 billion. Recall that this time last year, consumers in the U.S., Walmart's largest market, were in more of a mood to shop after receiving stimulus checks.