×
179
Fashion Jobs
SH MATRIX ENTERPRISES
Sales Manager
Permanent · Gurugram
PROPERTYXPO.COM
Area Sales Manager| Real Estate Portfolio Management | Gurgaon
Permanent · Gurugram
DLIGHT ENERGY PVT. LTD.
Hiring For Area Sales Manager | Pune/ Nagpur | d.Light Energy
Permanent · Pune
NATURELAND ORGANIC FOODS PRIVATE LIMITED
Area Sales Manager (Chennai)
Permanent · Chennai
NATURELAND ORGANIC FOODS PRIVATE LIMITED
Area Sales Manager (Maharashtra)
Permanent · Mumbai
EXTRAMARKS EDUCATION
Area Sales Manager- B2B Sales
Permanent · Nashik
OLIVE GREEN CONSULTING LLP
Urgently Looking For Area Sales Manager
Permanent · National Capital Region
DEEP CHAND DIALYSIS CENTRE PVT. LTD.
Immediate Joining For Area Sales Manager @ Kolkata
Permanent · Kolkata
MEDLEY PHARMACEUTICALS LTD
Area Sales Manager/ District Manager - Bhopal
Permanent · Bhopal
DREAM HOME PLASTO WARE IND
Production Manager
Permanent · Alwar
MEDLEY PHARMACEUTICALS LTD
Area Sales Manager/ District Manager - Bhopal
Permanent · Bhopal
EXTRAMARKS EDUCATION
Area Sales Manager- B2B Sales
Permanent · Nashik
TITAN BIOTECH LIMITED
Area Sales Manager
Permanent · Hyderabad
OPERA CLOTHING PRIVATE LIMITED
Production Manager For Garment Manufacturing Factory
Permanent · Daman
LEVI'S
Associate Sap Ptp Business Analyst
Permanent · Bengaluru
FEDBANK FINANCIAL SERVICES LTD
Area Sales Manager For Gold Loan - Chennai
Permanent · Chennai
DR MEDITECH SURGICAL AND DIAGNOSTICS INDIA PVT LTD
Production Executive / Production Manager (Biochemistry & Hematology
Permanent · National Capital Region
INFEXN LABORATORIES PRIVATE LIMITED
Medical Representative/ Area Sales Manager
Permanent · Navi Mumbai
ELLIOTT MOSS
IT Sales Manager
Permanent · Mumbai
GRAND CHEMICAL WORKS
Area Sales Manager - Jaipur gt
Permanent · Kota
IGENETIC DIAGNOSTICS /HEALTH MAP DIAGNOSTIC PVT LTD
Area Sales Manager/Territory Manager
Permanent · Pune
RANDSTAD INDIA PVT LTD
Market Development Manager - Horeca Sales
Permanent · National Capital Region
By
Reuters API
Published
May 17, 2022
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Walmart cuts full-year profit forecast as fuel, labor costs spike

By
Reuters API
Published
May 17, 2022

Walmart Inc cut its full-year profit forecast on Tuesday, signaling a bigger knock to the retail giant's profit margins from surging costs of everything from fuel to labor.


Reuters


The company's shares fell 6.5% to $138.51 in premarket trading.

Walmart has fared better than most rivals in maintaining inventory levels due to its massive scale and negotiating power with suppliers, but costs have soared as it expedited shipments and chartered cargo ships to get products on shelves.

An increase in wage costs led to operating expenses as a percentage of net sales rising by 45 basis points in the first quarter, Walmart said.

Net income attributable to the company slumped nearly 25% to $2.05 billion in the three months ended April 30.

"U.S. inflation levels, particularly in food and fuel, created more pressure on margin mix and operating costs than we expected," Chief Executive Officer Doug McMillon said in a statement.
The company said it expects fiscal 2023 earnings per share to fall about 1%, compared to its previous forecast of a mid-single digit increase.

Walmart also tempered its second-quarter earnings expectations. The company now estimated earnings per share to be flat to up slightly, compared to a previous forecast of a low to mid-single digit increase.

Total revenue for the first quarter rose 2.4% to $141.57 billion, beating analysts' average estimate of $138.94 billion, according to IBES data from Refinitiv.

Walmart has averaged a 4.9% increase in monthly visits since the start of 2022 compared to the same period in 2021, Placer.ai data showed, as its resistance to raising prices pulled in more price-conscious shoppers feeling the strain of persistent inflation.
 

© Thomson Reuters 2022 All rights reserved.