International
Walmart lifts outlook on strong earnings but hit by opioid settlement
| By AFP | Juliette Michel with Beiyi Seow in Washington |
US retailer Walmart saw its earnings top expectations in the third quarter as consumers looked for bargains amid surging inflation, but its numbers were bogged down after a settlement announced Tuesday relating to opioid cases.
The big-box retailer said it “continued to gain market share” in the grocery segment, raising its full-year outlook on strong results despite a challenging environment this year.
Total revenue came in better than expected at $152.8 billion, up 8.7 percent from a year ago.
Walmart also expects that its full-year adjusted profit will decline between 6.5 percent and 7.5 percent — an improvement from earlier estimates.
But its numbers were bogged down by a settlement resolving allegations that it contributed to the opioid crisis by failing to regulate prescriptions at stores.
The deal is set to provide $3.1 billion to communities nationwide and “require significant improvements in how Walmart’s pharmacies handle opioids,” according to a statement by New York Attorney General Letitia James’s office.
This came as the opioid crisis in the United States — causing more than 500,000 deaths over 20 years — triggered a flurry of lawsuits against drugmakers, distributors and pharmacies.
US pharmacy chains CVS Health and Walgreens similarly announced preliminary agreements this month to pay a total of more than $10 billion to resolve opioid claims.
“Pharmacies such as Walmart played an undeniable role” in perpetuating the harm caused by opioids, said James, adding that the settlement is being sent to other states for review and approval.
In a separate statement, Walmart said it “strongly disputes” the allegations but believes the settlement will help communities in the fight against the crisis.
Gains in grocery
“With the cost of everyday items still stubbornly high in too many categories, more customers and members are choosing us for the value and assortment we’re known for,” Walmart Chief Executive Doug McMillon told an earnings call.
Customers are shopping with Walmart more often as well, including wealthier consumers, he said.
“Walmart US continued to gain market share in grocery, helped by unit growth in our food business,” McMillon said in a statement, adding that the company has improved its inventory position.
“When consumer finances get tough, Walmart gets going. That is the central message from today’s strong set of numbers,” said GlobalData managing director Neil Saunders in an analysis.
He noted that most of the company’s expansion is occurring in grocery where shoppers are feeling the pinch.
Although some of this is down to inflation, “there has also been volume growth which reflects the increase in customer numbers.”
With US inflation hovering near a decades-high level, consumers have been spending more on staples and pulling back on discretionary items, forcing Walmart to cut its profit outlook in July.
The company also announced in recent months that it would hire 40,000 workers for the upcoming holiday season, significantly lower than before.
Investors have been eyeing Walmart’s results as a proxy for demand, and Wall Street stocks climbed in morning trading on signs of resilience among consumers.
International
Israel says 136 food aid boxes airdropped into Gaza by six nations
The Israeli military announced on Sunday that 136 boxes of food aid were airdropped into Gaza by the United Arab Emirates, Jordan, Egypt, Germany, and Belgium.
“In recent hours, six countries conducted air drops of 136 aid packages containing food for residents in the southern and northern Gaza Strip,” read the statement, which added that the operation was coordinated by COGAT, the Israeli defense body overseeing civil affairs in the occupied Palestinian territories.
The Israeli military emphasized that they will “continue working to improve the humanitarian response alongside the international community” and reiterated their stance to “refute false allegations of deliberate famine in Gaza.”
The announcement comes as UN agencies warn Gaza faces an imminent risk of famine. More than one in three residents go days without eating, and other nutrition indicators have dropped to their worst levels since the conflict began.
The agencies also noted the difficulty of “collecting reliable data in current conditions, as Gaza’s health systems —already devastated by nearly three years of conflict— are collapsing.”
Meanwhile, Gaza’s Hamas-run Health Ministry reported on Sunday that hospitals in the enclave recorded six deaths from hunger and malnutrition on Saturday, all of them adults.
International
Seven inmates dead, 11 injured after violent riot in Veracruz prison
Seven inmates were killed and eleven others injured in a violent riot and clash inside a penitentiary in the Mexican state of Veracruz, local authorities reported on Sunday.
The disturbance began on Saturday afternoon at the Social Reintegration Center in the port city of Tuxpan, in northern Veracruz, when inmates staged a protest over extortion and assaults allegedly carried out by members of the criminal group known as Grupo Sombra.
The protesting prisoners clashed with another group of inmates and set fires inside and outside the facility, seizing control of the prison for more than 12 hours.
During the takeover, the rioters released several videos, including one showing four prisoners —believed to be members of Grupo Sombra— accusing them of being behind the violence and extortion inside the prison.
It wasn’t until Sunday morning that elements of the Mexican Army, the National Guard, and local police forces managed to enter the prison and regain control. The state’s Public Security Secretariat confirmed that around 9:00 a.m. local time a coordinated operation restored full order and reestablished control of the facility.
Authorities also reported that the fires set by inmates were fully extinguished.
Official figures confirmed the “tragic” deaths of seven inmates and injuries to eleven people, who are now receiving medical treatment in various regional hospitals.
This is the second deadliest riot in Veracruz in the past eight years. In 2018, a violent uprising at the La Toma medium-security prison left seven people dead (six police officers and one unidentified man) and at least 22 injured (15 officers and seven inmates).
The riot follows the kidnapping and killing of retired teacher and taxi driver Irma Hernández, a case that shocked the entire country and was attributed to Grupo Sombra. Images of Hernández kneeling, surrounded by armed men in the municipality of Álamo, sparked nationwide outrage. She was murdered after refusing to pay extortion demands from the criminal organization.
Despite these incidents, Veracruz has not seen a spike in the daily homicide average. In fact, there has been a 1.6% decrease in homicides in the first half of 2025 compared to the same period in 2024, according to the Executive Secretariat of the National Public Security System.
In 2023, the National Institute of Statistics and Geography (INEGI) reported 3,094 incidents in Mexican prisons —an 18.5% increase from the previous year— resulting in 100 deaths and 892 injuries.
International
Study finds COVID-19 vaccines prevented 2.5 million deaths worldwide
COVID-19 vaccines prevented an estimated 2,533,000 deaths worldwide between 2020 and 2024, according to an international study led by Università Cattolica del Sacro Cuore in Italy and Stanford University in the United States, published in the journal JAMA Health Forum. Researchers calculated that one death was prevented for every 5,400 doses administered.
The analysis also found that the vaccines saved 14.8 million years of life, equivalent to one year of life gained for every 900 doses given.
The study, coordinated by Professor Stefania Boccia, revealed that 82% of the lives saved were people vaccinated before becoming infected with the virus, and 57% of deaths avoided occurred during the Omicron wave. In addition, 90% of the beneficiaries were adults over 60 years old.
“This is the most comprehensive analysis to date, based on global data and fewer assumptions about the evolution of the pandemic,” explained Boccia and researcher Angelo Maria Pezzullo.
Israel says 136 food aid boxes airdropped into Gaza by six nations
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