- Nigeria refuse to play in Libya as Algeria, Cameroon qualify
- Strike-hit Boeing leaves experts puzzled by strategy
- Leweling rockets Germany past Dutch and into Nations League quarterfinals
- Kolo Muani double fires France to win in Belgium
- Italy sweep past Israel in Nations League amid high security
- UN peacekeepers to 'stay in all positions' in Lebanon
- NASA launches probe to study if life possible on icy Jupiter moon
- 'Unique' Ronaldo an example to everyone, says Martinez
- New lawsuits against Sean Combs allege sex assault, including of minor
- Italy begins migrant transfers to Albania with first group of 16
- Google signs nuclear power deal with startup Kairos
- Carsley open to foreign England manager amid Guardiola links
- Pogba hungry to have his football cake after doping ban
- India and Canada expel top envoys in Sikh separatist killing row
- Mbappe says victim of 'fake news' after 'rape' report in Sweden
- Lebanon says 21 killed in strike on northern village
- Netanyahu vows no mercy after deadly Hezbollah drone strike
- Russia could be able to attack NATO by 2030: German intelligence
- EVs seek to regain sales momentum at Paris Motor Show
- Clarke backs Scotland to bounce back from 'tough' run
- Harris, Trump target crucial Pennsylvania as US vote looms
- NASA probe Europa Clipper lifts off for Jupiter's icy moon
- Lebanese Red Cross says 18 killed in strike in north
- Mendy borrowed money from Man City team-mates for legal fees
- Palestinian officials say Israeli forces kill two in West Bank
- Football leagues, unions file EU complaint against FIFA in calendar dispute
- Nigeria boycott AFCON qualifier in Libya after 'inhumane treatment'
- India to recall top envoy to Canada: foreign ministry
- Hezbollah, Israeli troops in 'violent clashes' after drone strike
- China insists won't renounce 'use of force' to take Taiwan as drills end
- Painkiller sale plan to US gives France major headache
- Italy begins landmark migrant transfers to Albania
- Russia jails French researcher for three years
- 'Unsustainable' housing crisis bedevils Spain's socialist govt
- Stocks shrug off China disappointment but oil slides
- New Zealand 4-0 up in America's Cup but British show signs of life
- Russian prosecutor demands 3 years prison for French researcher
- 'Innocent' British nerve agent victim caught in global murder plot: inquiry
- Afghan Taliban vow to implement media ban on images of living things
- Russian prosecutor demands 3 years, 3 months jail for French researcher
- England ready for Pakistan's spin assault in second Test
- New Zealand's Ravindra excited for India Tests with father in crowd
- India's capital bans fireworks to curb air pollution
- Stocks diverge, oil retreats as China disappoints markets
- FIFA to open 'global dialogue' on transfer system after Diarra ruling
- Trio wins economics Nobel for work on wealth inequality
- Starmer vows to cut red tape as he urges foreign investors to 'back' UK
- Ex-Stasi officer jailed over 1974 Berlin border killing
- 'Not viable': Barcelona turns against surging tourism
- Hezbollah says targeted Israeli naval base after deadly drone strike
Walmart narrowly lifts forecast as inflation stays consumer concern
Walmart narrowly lifted its full-year forecast on Thursday following solid quarterly results as it continued to navigate a market challenged by elevated pricing that has depressed demand for some goods.
The giant retailer, which emphasizes its strength as a value-oriented vendor, reported profits of $453 million. That compares with a loss of $1.8 billion in the 2022 period, which was hit by large costs tied to an opioid settlement.
Revenues rose 5.2 percent to $160.8 billion.
The giant retailer now expects full-year profits of between $6.40 to $6.48 per share, up from the prior range of $6.36 to $6.46 a share.
"We had strong revenue growth across segments for the quarter, and we're excited to get an early start to the holiday season," said Chief Executive Doug McMillon.
"From a Thanksgiving meal that costs less than last year, to great prices on fashion, toys, electronics, and seasonal decorations, we're here to help families from around the world make this a special time."
Walmart's US division, which accounted for more than two-thirds of revenues, scored a 4.9 percent jump in comparable sales.
While that is still an impressive count, it is down from more than eight percent growth in the year-ago period.
Walmart bills itself as an affordable option for cash-strapped consumers, pointing to the benefits of tremendous economies of scale as the world's biggest retail chain.
The retailer pointed to strong sales in groceries and pharmacy goods, offsetting weakness in discretionary items such as apparel, home and toys.
Results during the quarter were also dented somewhat by elevated spending on store remodels.
During a conference call with analysts, McMillon acknowledged that the company "could have done a better job on expenses."
However, Walmart said it benefited from lower supply chain costs compared with the 2022 quarter, when it also heavily marked down merchandise due to oversupply.
Shares fell 6.3 percent in pre-market trading.
T.Ward--AMWN