Hot dogs vs deli meat; rising costs shape choices at Walmart

By ANNE D’INNOCENZIO
AP Retail Writer

NEW YORK (AP) — Walmart has reported better-than-expected second quarter results. That’s partly due to more Americans looking to cut costs on groceries at the nation’s largest retailer in the face of surging inflation. Those rising prices, however, meant that customers where cutting back on non-necessary purchases. Walmart reported a $5.15 billion quarterly profit Tuesday. It easily topped Wall Street’s profit and sales forecasts. The Arkansas-based company’s stock rose 5%.