Walmart warns of fuel strain

Walmart has reported a strong first quarter but issued a cautious outlook for the rest of the year as rising fuel costs begin to squeeze consumer spending.

The retail giant said that while budget-conscious shoppers are flocking to its stores, higher gas prices are impacting its profit margins.

The company maintained its conservative annual sales targets, leading to a slight dip in share price following the announcement.

Executives noted that lower-income households appear to be under increasing financial stress due to the ongoing energy crisis.

Despite these challenges, Walmart's focus on low-priced groceries and essentials continues to drive record customer traffic.