Walmart is cautious with expectations after slowest sales growth in 6 years

The briefing

Walmart posted its slowest U.S. comparable sales growth in six years, rising 2.6% in the second quarter, down from 4.1% in the first. Shares fell more than 8% as the results fanned anxiety about low-income shoppers spending cautiously amid rising gas and energy costs; the company expects $2 billion in incremental fuel costs this year. Quarterly profit topped expectations, helped by a $2.9 billion tariff refund that Walmart is using to temporarily lower prices on 11,000 items.