US consumers more cautious with spending for holidays: Walmart

BENTONVILLE, Arkansas: Even as it raised its forecast for sales and profits for the current year, this week, Walmart said U.S. consumers are more cautious with spending ahead of the holiday season gets underway.

Shares in the largest U.S. retailer fell 7.7 percent this week, with executives blaming higher interest rates and declining household savings for "somewhat uneven" sales over the past two months.