By Le Figaro with AFP
Published update
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The American supermarket chain Walmart did better than expected over the holiday season, but its 2023 forecast disappointed Wall Street as inflation weighs on consumer spending.
The group achieved a turnover of 164 billion dollars for the period ended January 31, the fourth quarter of its staggered financial year, significantly better than expected and up 7.3% year on year. But he anticipates earnings per share of between $5.90 and $6.05 for the current fiscal year, below market expectations. In electronic trading prior to the opening of Wall Street, Walmart’s stock fell nearly 4%.
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10,000 stores worldwide
Premier private employer in the United States and renowned for its prices that are often more affordable than its competitors, the Bentonville (Arkansas) giant is under pressure in a context of persistent inflation. The rise in the cost of living is pushing consumers to focus on products deemed essential.
” READ ALSO – Walmart weathers the effects of soaring prices
In the fourth quarter of its staggered fiscal year, Walmart posted solid health in food as well as in other segments such as pet products or personal hygiene products. On the other hand, categories such as toys, clothing or electronic products encountered more difficulties.
The group, which operates more than 10,000 stores worldwide, generated revenues of $113.7 billion in the United States (+8%) and $27.6 billion in the rest of the world (2.1%) . Its retail warehouse brand, Sam’s Club, had sales of $21.4 billion.
