SA: Walmart shares fall ~ 8% after hours as US-retail giant cuts profit outlook for Q2, FY

© Benjamin Sibuet

SEEKING ALPHA reports:

– Shares of Walmart (NYSE:WMT) fell 8.2% after hours on Monday as the U.S.-retail giant lowered its profit outlook for Q2 and FY 2023.

– The company said its operating margin was now expected to be about 4.2% for Q2 and 3.8% to 3.9% for FY 2023.

– The guidance cut was “primarily due to pricing actions aimed to improve inventory levels at Walmart and Sam’s Club in the U.S. and mix of sales,” WMT said in a statement.

– Comparable sales for Walmart U.S., excluding fuel, are expected to be about 6% for Q2…

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