Walmart increases grocery discounts amid economic headwinds

Walmart, the nation’s largest private employer, has increased the number of discounts it offers, especially in its grocery business, as it looks to offset the impact of tariffs and attract shoppers.In its second-quarter earnings report, the retail behemoth said it offered more than 7,400 "rollbacks," or discounts, during the three-month period ending in July. Walmart also provided 30% more grocery discounts compared to a year earlier. Not only is the company contending with tariffs, which it warned would force costs to rise, but it is also facing higher operating costs. The company had to set aside an additional $450 million last quarter to cover insurance costs tied to things like workplace injuries and liability claims, cutting into profits. Walmart reported $177.4 billion in revenue, up nearly 5% from last year, and beating Wall Street expectations. Walmart’s U.S. sales hit $120.9 billion in the second quarter, up about 5% or $5.6 billion from last year. Meanwhile, sales at stores open at least a year rose 4.6%, driven by strong demand in groceries and health products.The retail behemoth credited its strong sales growth in part to the increased discounts at stores as well as the convenience of e-commerce and omnichannel offerings. Its e-commerce sales rose 26% during the quarter. GET FOX BUSINESS ON THE GO BY CLICKING HEREThe company raised its outlook for fiscal 2026, projecting that sales will climb 3.75% to 4.75%. Earnings per share (EPS) are now projected at $2.52 to $2.62.This is a developing story. Check back for updates. Weiter zum vollständigen Artikel bei FOX Business Weiter zum vollständigen Artikel bei FOX Business