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Reuters
Walmart sees weaker 2023 results, cautious on economic outlook
(Reuters) -Walmart Inc struck a cautious note in its economic outlook for 2023 on Tuesday, as the retail bellwether forecast full-year earnings below estimates and warned that cautious spending by consumers could pressure profit margins. Shares of the world’s largest retailer fell 4.6% to $139.75 in premarket trading, as the company continued to battle price hikes from many of its product suppliers in a high-inflation environment. Higher U.S. consumer prices, amid loftier costs for rental housing and food, have raised fears the U.S. Federal Reserve could further lift borrowing costs to cool domestic demand, leading to an economic downturn in the second half of the year.
