Published On: Tue, Nov 16th, 2021

Walmart Raises Full-Year Sales, Profit Forecasts as Holidays Start Strong

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Walmart Inc. on Tuesday raised its annual sales and profit forecast in anticipation of a surge in demand for toys and apparel during the crucial holiday season, even as global supply chain disruptions hit its margins in the third quarter. Shares of the world’s largest retailer were flat in pre-market trading, reversing earlier gains of 2 percent. Major retailers including Amazon.com have been struggling to bring products into the United States ahead of the peak shopping season due to shipping logjams, shuttered factories in parts of Asia and a scarcity of raw materials in the recent months. Walmart, which has been chartering its own vessels to move goods, said U.S. inventory was up 11.5 percent ahead of the busy festive season. “We have the people, the products, and the prices to deliver a great holiday season for our customers and members,” Chief Executive Officer Doug McMillon said in a statement. …

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