By Isabella Simonetti
Source: The New York Times
Walmart on Tuesday reported strong sales and profits for last quarter but said times would be tougher this year, a warning that consumers were starting to pull back as they felt the squeeze from relentlessly rising prices for everyday goods.
The retail giant’s revenue and profit grew more quickly than analysts expected for the three months through January, which includes the holiday shopping season, as consumers made more trips to its stores and spent more per visit than they did a year earlier. Walmart’s quarterly revenue of $164 billion was 7.3 percent higher than a year earlier. December was the best month for sales in history at Walmart’s U.S. stores, the company said.