Walmart gives soft outlook for the year after posting strong holiday quarter

Walmart topped holiday quarter earnings expectations, as the discounter said it drew budget-conscious shoppers searching for food, gifts and household items at a lower price.
Shares closed up slightly Tuesday after the big-box retailer gave a weaker-than-expected outlook for the year ahead.
Walmart CFO John David Rainey told CNBC shoppers are still buying fewer discretionary items, as grocery prices remain elevated.
“The consumer is still very pressured,” he said. “And if you look at economic indicators, balance sheets are running thinner and savings rates are declining relative to previous periods."
Home Depot, which reported fiscal fourth-quarter earnings on Tuesday morning, also shared a muted outlook. It said it expects same-store sales to be approximately flat in the coming fiscal year.
Here’s what Walmart reported for the fiscal fourth quarter that ended Jan. 31
Walmart Q4 FY23 (ending January):
• Revenue +7% Y/Y to $164B (5.46B beat).
• Non-GAAP EPS $1.71 ($0.20 beat).
• Walmart U.S. comp sales +8%.
• E-commerce +17% Y/Y.
• Sam's Club comp sales +12%.
FY24 Guidance: Net sales +3% Y/Y fx neutral.