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Walmart cautious on economy, forecasts annual earnings below estimates

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Walmart forecast fiscal 2024 earnings of $5.90 to $6.05 per share, compared with analysts’ estimates of $6.50 per share

The consolidated gross profit rate declined 83 basis points in the holiday quarter, primarily due to markdowns and sales of lower-margin products, the company said.

In contrast, Kraft Heinz and PepsiCo plan to pause further price hikes to counteract declining volumes, but their prices are still substantially elevated compared to a year earlier.

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Oh oh. Better lay off the minimum wage workers.

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