Walmart steers through inflation, boosting profit and sales
ABC News
Walmart muscled through rising inflation and snarled global supply chains to put up strong fourth quarter results
NEW YORK -- Walmart muscled through rising inflation and snarled global supply chains to put up strong fourth quarter results Thursday.
The company also delivered an upbeat outlook for this year and boosted its dividend. Shares rose more than 2% before the opening bell.
Walmart used its size and clout to control prices with global inflation soaring, coordinating with suppliers to ensure price gaps with rivals where needed, CEO Doug McMillon said Thursday.
Net income reached $3.56 billion, or $1.28 per share in the quarter ended Jan. 31. Per share earnings adjusted for one-time costs and benefits was $1.53, or 3 cents better than Wall Street expected, according to a survey by FactSet. Revenue rose 0.4% to $151.5 billion.
