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May 18, 2022

Inflation takes a bite out of Walmart

NEW YORK (AP) — Walmart reported stronger sales for the first quarter, but its profit took a beating as the nation's largest retailer grappled with surging inflation on food and fuel and higher costs from a snarled global supply chain.

The company also on Tuesday cut its full-year earnings forecast, sending shares down more than 8% in morning trading.


 
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