Walmart CFO says 'many consumer pocketbooks' are being stretched as high inflation persists

While Walmart's earnings topped Wall Street expectations, CFO John David Rainey said that "many consumer pocketbooks are still stretched."  "We see the effect of that in our business specs as they're spending more of their paychecks on non-discretionary categories and less on general merchandise," Rainey told analysts on the first-quarter earnings call Thursday. Rainey said that particular merchandise mix is still a headwind to margins, but Walmart U.S. is in the midst of executing strategies aimed at impro ...