Walmart, Target, Cisco: Earnings Spotlight
By Syfe  •  May 19, 2022
A number of US retailers reported quarterly earnings this week, shedding light on how American consumers are dealing with sky-high inflation and rising interest rates. Meanwhile, the US market continued to whip-saw amid inflation fears. Here are the week’s top headlines. Walmart worries At this time of writing, shares of Walmart are down 17% for the week after the US retailer slashed its earnings guidance and revealed that Q1 2022 profits had taken an “unexpected” hit. The company pointed to elevated fuel prices, higher labour costs, and increased inventory levels as factors that weighed on first-quarter profits. Walmart is the world’s largest retailer and is widely seen as a bellwether of the American consumer. As food costs rise in the US, Walmart is selling more low-margin food items like bread and eggs, and less higher-margin items like electronics. Amid price pressures, Walmart has seen its customers switch from brand names to cheaper generic brands, and buy half-gallons of milk instead of full gallons....
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By Syfe
Syfe is a digital investment platform that is building the next generation of financial solutions for individuals across Asia ...

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