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World’s Richest Family Loses $13 Billion in Walmart Rout

Shares of the Bentonville, Arkansas-based retailer, which is controlled by the family, tumbled as much as 9.1% in New York trading after it said adjusted earnings per share will decline as much as 13% this year with US shoppers reining in spending on big-ticket items amid soaring consumer prices. Two months ago, the company said earnings per share would only dip about 1%, while in February, it had predicted a modest increase.

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