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The destocking cycle through the lens of Walmart’s interim results out yesterday proves the environment for the most prominent US shipper is just about ok.

But there wasn’t great news to share.

In a call with management for the second quarter ended 31 July (Q2 24), analysts wanted to know more about the back half of 2023 and beyond. Walmart (WMT) was cautious in giving away too much.

Here we focus more on trends and less on numbers, safe in the knowledge that the ...

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