Walmart sees weaker 2023 results, cautious on economic outlook

Walmart Inc struck a cautious note in its economic outlook for 2023 on Tuesday, as the retail bellwether forecast full-year earnings below estimates and warned that cautious spending by consumers could pressure profit margins.

Shares of the world’s largest retailer fell 4.6% to $139.75 in premarket trading, as the company continued to battle price hikes from many of its product suppliers in a high-inflation environment.