Walmart sticks to annual targets amid rising fuel costs
The retailer maintained its annual sales growth target of 3.5% to 4.5% despite rising fuel costs and inflationary pressures. While first-quarter comparable sales rose 4.1%, the company issued a cautious second-quarter forecast that fell below analyst expectations.
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WALMART INC maintained its annual sales and profit targets on May 21 despite rising fuel costs and tightening consumer budgets. The retail giant kept its net sales growth forecast at 3.5% to 4.5% and adjusted earnings per share between $2.75 and $2.85. Investors are weighing whether the retailer's value-focused model can offset a 250-basis-point hit to operating income from surging energy prices.
