CNBC: Walmart reports big earnings miss as higher costs, supply chain eat into profits

CNBC reports:

Walmart on Tuesday reported quarterly earnings that missed Wall Street’s expectations by a wide margin, as the nation’s largest retailer felt pressure from rising fuel costs and higher levels of inventory.

Shares were down nearly 9% early Tuesday.

Walmart is a much-watched company as investors and economists look for clues about how the American consumer is weathering inflation.

The discounter’s bottom line results for the quarter “were unexpected and reflect the unusual environment,” CEO Doug McMillon said in a release Tuesday morning. Inflation ...