Walmart Says It Has a Rough Road Ahead — Here’s Why
It looks like America’s largest retailer is in for a rocky 2023.
Despite a strong holiday shopping season, Walmart is predicting slower sales and profit growth this year — news that drove the retailer’s stock down on Tuesday morning, CNN reported.
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The company reported an 8.3% sales increase during its latest quarter at U.S. stores open for at least a year, but most of the holiday growth came from grocery sales as consumers purchased necessities over gifts.