The first quarter earnings season is almost behind us. Several companies outperformed expectations as economies revived from the wrath of the pandemic, while a few are still trying to gain momentum. Remarkably, many companies have refrained from giving a near-term outlook as it has become increasingly difficult to foretell the future amid the uncertain economic and business environment. Economies worldwide are going through a tumultuous period, with record high inflation rates having a direct impact on consumers’ discretionary income. The wrath of inflation has not spared even the big names like Walmart (WMT) and Target (TGT).
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