International

Walmart reports Q2 sales surge, partly due to inflation

AFP

Walmart reported a jump in quarterly revenues Tuesday partly driven by inflation as the retail giant signaled it expects its US sales growth to moderate over the next six months.

The big-box retailer, which had cut its profit forecast three weeks ago due to shifting consumer behavior, said pricing pressures on consumers boosted sales of groceries, while denting demand for other items such as apparel, electronics and home products.

Revenues for its second fiscal quarter ending July 31 were $152.9 billion, up 8.4 percent from the year-ago period.

Profits rose 20.4 percent to $5.1 billion, with some of the increase connected to the accounting for an asset sale in Brazil.

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Walmart’s US comparable store sales rose 6.5 percent from one year ago, but the company expects about three percent growth in the second half of 2022.

Higher gasoline prices, along with elevated prices for grocery-item staples have been prompting more consumers to “trade down” to lower-priced goods.

On the positive side, gas prices have gradually fallen during the summer, mitigating this effect somewhat.

“We’re pleased to see more customers choosing Walmart during this inflationary period, and we’re working hard to support them as they prioritize their spending,” Walmart Chief Executive Doug McMillon said in a news release.

McMillon said the company made “good progress” to manage supply chain costs “and that work is ongoing.”

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Shares of Walmart rose 3.7 percent to $137.48 in Tuesday pre-market trading.

International

Football Fan Killed in Clashes After Colombian League Match

Fans of Cúcuta Deportivo and their traditional rivals Atlético Bucaramanga clashed outside the stadium following their local league match on Tuesday, leaving one supporter dead and several others injured.

The deceased fan was stabbed, according to a senior police official in Cúcuta who confirmed the cause of death in a video statement. Local media reported that the victim was a supporter of the visiting team, Atlético Bucaramanga.

The match ended in a 2-2 draw. Authorities had banned the entry of Atlético Bucaramanga’s organized supporters into the stadium in an effort to prevent disturbances.

Despite the restrictions, violence broke out in the surrounding areas after the game. Among the injured were three police officers, an institutional source told AFP.

The incident adds to a series of recent violent episodes linked to Colombian football. The most recent occurred in December, when supporters of Atlético Nacional and Independiente Medellín clashed in the stands and on the pitch, leaving 59 people injured.

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International

Missing Spanish Sailor Rescued After 11 Days Adrift in Mediterranean

The man had departed from the port of Gandía, on Spain’s eastern coast, with the intention of reaching the southern Spanish town of Guardamar del Segura, a journey of about 150 kilometers, a spokesperson for Spain’s maritime rescue service told AFP.

Search boats and aircraft were deployed on January 17, but the operation was called off on January 22 after efforts proved unsuccessful. Alerts were then issued to vessels navigating the area in case they spotted any signs of the missing sailor.

As hopes were fading, a surveillance aircraft from the European Union’s border agency Frontex spotted the sailboat on Tuesday, along with a person signaling for help, approximately 53 nautical miles northeast of Bejaia, Algeria.

A nearby vessel, the Singapore-flagged bulk carrier Thor Confidence, carried out the rescue and is expected to bring the man to an end to his ordeal when it arrives on Thursday in the southern Spanish port city of Algeciras.

Maritime rescue services shared images on social media showing a small white sailboat drifting at sea and secured alongside the much larger ship.

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It remains unclear how the sailboat ended up hundreds of kilometers off its intended route or how the man managed to survive for so long alone in open waters.

International

Rubio Says U.S. Could Participate in Follow-Up Russia-Ukraine Talks

The United States could join a new round of talks this week aimed at ending Russia’s invasion of Ukraine, Secretary of State Marco Rubio said on Tuesday.

Teams from Kyiv and Moscow met last Friday and Saturday in Abu Dhabi in their first publicly acknowledged direct negotiations to discuss the peace initiative promoted by former U.S. President Donald Trump.

“They are going to hold follow-up talks again this week,” Rubio told the Senate Foreign Relations Committee. “There could be U.S. participation.”

However, Rubio suggested that Washington’s role may be more limited than during last week’s discussions, which included Steve Witkoff, the president’s special envoy, and Jared Kushner, Trump’s son-in-law.

The secretary of state indicated that progress may have already been made on security guarantees for Ukraine, one of Kyiv’s key demands in any agreement with Moscow after nearly four years of Russian invasion.

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“There is one remaining issue that everyone is familiar with, and that is the territorial claim over Donetsk,” Rubio said, referring to the eastern Ukrainian region that Russia wants Ukraine to cede.

“I know that active efforts are underway to see whether the positions of both sides on this issue can be reconciled. It remains a bridge we have not yet crossed,” he added during the hearing.

Rubio acknowledged that the territorial question would be particularly difficult for Ukraine to resolve.