Walmart Shares Fall ~8% After Hours as U.S.-Retail Giant Cuts Profit Outlook for Q2, FY

Shares of Walmart (NYSE:WMT) fell 8.2% after hours on Monday as the U.S.-retail giant lowered its profit outlook for Q2 and FY 2023.

The company said its operating margin was now expected to be about 4.2% for Q2 and 3.8% to 3.9% for FY 2023.

The guidance cut was “primarily due to pricing actions aimed to improve inventory levels at Walmart and Sam’s Club in the U.S. and mix of sales,” WMT said in a statement.

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Source: Seeking Alpha