Walmart issues worse-than-expected outlook as high gas prices hit shoppers
Walmart is set to report its fiscal first-quarter earnings, which could provide insights into U.S. consumer health. Analysts expect the retailer to show growth in sales and profits, but are particularly interested in consumer spending trends amid rising gas prices and declining sentiment. The report will help gauge the resilience of both lower and higher-income shoppers in the current economic climate.
- ▪Walmart's earnings report is anticipated to reveal insights into U.S. consumer spending.
- ▪Analysts predict earnings per share of 66 cents and revenue of $175 billion for the quarter.
- ▪The report comes amid rising gas prices and a record low in consumer sentiment.
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With all eyes on the health of the U.S. consumer, Walmart's fiscal first-quarter earnings report Thursday morning may offer Wall Street some of the best clues yet. The big box retailer is expected to report another quarter of growing sales and profits, but its commentary on consumer spending – if it's seeing any pressure and where – could offer investors a view into the strength of the U.S. economy. Here's what analysts expect Walmart to report for the quarter, according to consensus estimates from LSEG:Earnings per share: 66 cents per shareRevenue: $175 billionIn the three months since Walmart last reported earnings, there's a new conflict in the Middle East, gas prices have soared and consumer sentiment has plummeted, falling to a fresh record low in May.
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