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Walmart Q1 sales up 7.3%; sounds warning about fuel costs

Walmart Inc. reported strong revenue growth for its first quarter, driven in part by soaring e-commerce sales and continued growth in its advertising business.  

But the nation’s largest retailer issued soft second quarter and full-year guidance amid soaring gas prices.  In an interview with CNBC, Walmart CFO John Rainey warned that high gas prices could take a toll on shoppers going forward.

 “I think higher tax returns muted some of the pressure related to higher fuel prices and as we’re in a period of time right now where those tax refunds are largely not coming in, I think consumers are going to feel more of that pressure from higher fuel prices,” he said. “It’s something that we’re keeping a close eye on, but that expectation is built into our guidance for the second quarter.”

Walmart Q1 sales up 7.3%; sounds warning about fuel costs | Chain Store Age

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