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Walmart raises outlook after 3Q results top estimates

Published by
AFP

New York (AFP) – Walmart lifted key profit forecasts on Tuesday following another solid quarter and expressed confidence it would have sufficient inventories for the holidays despite global supply chain snarls. The big-box chain now projects full year adjusted earnings of $6.40 per share, up from the prior range of $6.20 to $6.35 a share after third-quarter US comparable sales jumped by 9.2 percent.  The biggest retailer in the world acknowledged higher costs connected with shipping and supply chain pressures, but said it had built up additional stockpiles of goods to meet demand. Walmart has …

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