The big-box retailer reported a strong first quarter on Tuesday, but still withdrew its financial outlook because of economic uncertainty.
"We may see a bit of a two-step in some places where we make progress; two steps forward, take a step back, and then move forward again," he said.
The big-box retailer reported a strong first quarter, but still withdrew its financial outlook because of economic uncertainty. But CEO Doug McMillon told analysts Tuesday that the retailer is prepared for a bumpy road ahead in the U.S. during the"We may see a bit of a two-step in some places where we make progress; two steps forward, take a step back, and then move forward again," he said. "Obviously, there are a lot of pieces that have to be put in place from testing to exposure notification. I think policies at state level and county level are going to influence this.
On a Tuesday call with analysts, Walmart's Chief Financial Officer Brett Biggs said the economy and the company's sales are just too difficult to predict. He said there are numerous factors that could move the needle, including employment trends, consumer confidence and whether there's more economic stimulus.
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