Panic-buying boosts profits, tests supply chain at Walmart

New York (AFP) – Booming demand for groceries and essential items lifted Walmart’s first-quarter profits, even as the company struggled during the coronavirus crisis to replenish key items like toilet paper and cleaning supplies, the company said Tuesday.”Our supply chain is amongst the most capable in the world, but in this environment we have stretched it,” said Walmart CEO Doug McMillon, who estimated that US inventories were down about eight percent at the end of the period.”Job number one in the US is to get back in stock,” McMillon said on a conference call with analysts.Walmart’s e-comm…

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