Walmart Defies Gloom Over Inflation With Sales and Profit Upgrade

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Walmart is also a bellwether for the retail industry, providing a hint at what earnings might look like for Target, Macy’s and others that report this week.Home Depot, for its part, also reported on Tuesday that sales and profits last quarter were stronger than analysts expected, with higher prices offsetting a decline in transactions. It stuck with its forecast for modest earnings growth in the fourth quarter and it expected comparable sales for the quarter to be the lowest it would have all year. Analysts focused on how trends in the U.S. home market were affecting Home Depot’s business, much of which is tied to home improvement projects. The Federal Reserve’s actions to address inflation by raising interest rates has made it more expensive for Americans to borrow to buy homes.“We have remained i …