Walmart raises profit outlook as US consumers focus on value


US retail giant Walmart raised its profit outlook on Thursday, as stubbornly high prices and customer flight to value saw it grab market share in grocery and general merchandise.

For its second quarter, the retailer posted profits of $7.9bn (£6.19bn), up 53% year on year, having recovered from a build-up of excess stock due in part to unfolding pandemic supply chain issues.

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