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.
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.”
Shares of Walmart rose 3.7 percent to $137.48 in Tuesday pre-market trading.
International
Trump moves to reclassify marijuana as less dangerous substance
Former U.S. President Donald Trump signed an executive order on Thursday to reclassify marijuana as a less dangerous addictive substance, a move aimed at encouraging medical research without immediately opening the door to federal-level decriminalization.
Trump said that “people were begging” him to make the decision, particularly individuals suffering from chronic pain. He stressed, however, that the measure “is not at all a decriminalization” of marijuana for non-medical use.
“I’ve always told my children: don’t use drugs, don’t drink, don’t smoke,” Trump added. He is a well-known teetotaler.
A senior government official described the decision as “common sense” during a briefing with reporters, noting that marijuana and CBD-based products — a compound derived from cannabis known for its relaxing properties — are already widely used in the United States by patients dealing with chronic pain.
Most U.S. states currently allow the use of cannabis for medical purposes, and more than 20 states, along with the nation’s capital, Washington, D.C., have also legalized recreational use.
International
Shakira’s El Salvador concerts sell out in hours, fans demand more dates
The sell-out of all three announced Shakira concerts in El Salvador in less than 24 hours has sparked a collective call for additional dates, highlighting an overwhelming demand that transcends borders and positions the country as a cultural hub in Central America.
Ticket sales for Shakira’s Central American residency confirmed the artist’s massive impact across the region. The three shows scheduled for February 12, 14, and 15 in El Salvador sold out in under 24 hours, triggering an immediate public response from fans who were unable to secure tickets and are now urging promoters to open new dates, according to an official statement from promoters Two Shows and Fenix Entertainment.
Even before ticket sales officially opened, thousands of people joined virtual queues that exceeded the usual capacity of the country’s ticketing platforms. Despite logging in early and waiting for hours, many users were unable to complete their purchases and were ultimately left without tickets, Two Shows reported.
The unprecedented demand was widely documented through screenshots, testimonials, and social media posts, showing slow-moving waiting lists, ticketing websites overwhelmed by traffic, and purchase processes that failed to go through despite users following all required steps within the designated timeframes.
According to the organizers, demand to see Shakira perform in El Salvador remains strong even after the sell-out. Meanwhile, hotels have reported booking inquiries beyond the announced concert dates, pointing to a larger-than-expected tourism influx tied to the event.
International
Rubio rules out 2028 presidential bid if Vance runs
U.S. Secretary of State Marco Rubio said he would not seek the presidency in 2028 if current Vice President JD Vancedecides to run as the Republican nominee to succeed President Donald Trump.
“If JD Vance runs for president, he will be our candidate, and I will be one of the first people to support him,” Rubio said in an interview with Vanity Fair, in which he appeared alongside other senior members of the presidential cabinet.
Rubio, 54, and Vance, 41, are widely viewed as two of the leading Republican figures who could headline the party’s ticket in the 2028 election. Under the U.S. Constitution, Trump is barred from seeking another term after completing two presidential mandates.
In a lighthearted moment during the interview, Vance jokingly offered photographers $1,000 if they managed to make him look better than Rubio in the photos. Both leaders have received public backing from Trump, who last October floated the idea of a joint ticket featuring Rubio and Vance, without clarifying who would lead it.
“I think that if they ever teamed up, they would be unstoppable. I don’t think anyone would run against us,” Trump said at the time.
White House Chief of Staff Susie Wiles, who also took part in the interview, confirmed that Trump does not intend to violate the 22nd Amendment, which prohibits a third presidential term, though she acknowledged that the president is “having fun” with speculation about a possible return to office.
Rubio, the son of Cuban immigrants, served as a Republican senator from 2010 to 2025. He sought the party’s presidential nomination in 2016 but was defeated by Trump after a bruising primary contest. His name was floated as a potential vice presidential pick in 2024, but Vance ultimately secured the spot. After taking office, Trump appointed Rubio as secretary of state, making him the first Latino to hold the position.
Trump moves to reclassify marijuana as less dangerous substance
Shakira’s El Salvador concerts sell out in hours, fans demand more dates
Rubio rules out 2028 presidential bid if Vance runs
Tec de Monterrey honors one of its students for his contribution to nanotechnology in medicine
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