Walmart warns fuel costs may lift retail prices (opens in new tab)

Walmart reported higher quarterly sales and profit but gave a cautious outlook after fuel costs rose and shoppers showed signs of cutting back. For the first quarter ended April 30, net income rose 18.8% to $5.3 billion, revenue increased 7.3% to $177.8 billion and comparable sales at U.S. stores rose 4.1%. Its shares fell after the forecast missed Wall Street expectations; CNBC said the stock dropped 7%, and the Financial Times described a share plunge after Walmart said it absorbed higher f...