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UK supermarkets are resisting government talks on food price caps, warning that rising labour, energy and logistics costs are already squeezing retail margins.
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Total revenues rose to $23.07bn from $20.93bn.
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The US retailer now projects net sales growth of around 4% for 2026 against 2025 levels – two percentage points higher than its previous guidance range.
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The re-emergence of the defensive shopper is reshaping UK retail demand and influencing category performance and commercial strategy.
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Net earnings fell 4.2% to $3.28bn from $3.43bn in the comparable prior-year period.
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He joins from PVH, where he held the position of CEO of PVH Americas.
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England previously served as chief supply chain officer at Genuine Parts Company and has spent nearly two decades at Walmart across operations, strategy and finance roles.
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Under the arrangement being discussed, retailers would identify various staples and commit to holding prices steady as the government looks to relieve household cost-of-living pressures.
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