|
Walmart raises earnings forecast for year after jump in quarterly sales
 WASHINGTON (Reuters) - U.S. retailer Walmart Inc (WMT.N) reported an estimate-beating jump in second-quarter U.S. comparable sales on Thursday as shoppers boosted purchases at its stores and websites, sending its shares up 5% in premarket trading.Walmart raised its earnings expectations for the year after recording 20 quarters, or five straight years, of U.S. growth, unmatched by any other retailer. The prices of some items sold by the retailer have climbed due to tariffs on Chinese imports, but the company is managing that pressure by negotiating with suppliers and sourcing from alternate supply bases, Chief Financial Officer Brett Biggs told Reuters in an interview. U.S. President Donald Trump raised tariffs on $200 billion of Chinese imports to 25% from 10% earlier this year, a move that has begun pushing up prices of thousands of products including clothing, furniture and electronics. Posted by: Besoeker 2019-08-15 |
| http://www.rantburg.com/poparticle.php?ID=548050 |