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Walmart Slumps on Rare Profit Miss, Citing Higher Claims

Despite the rare profit miss, the retail giant raised its full-year sales guidance, an optimistic signal that consumers’ purchasing power is holding up despite rising concerns over inflation and weakening economic data.
Walmart store front.
Walmart store front. (Shutterstock)

Walmart Inc. shares fell after profit missed expectations for the first time in three years, overshadowing higher sales.

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