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Customers shop at a Walmart store in Arkansas. — Reuters

EVEN as the world braces for recession, the big consumer groups, including Coca-Cola Co, Nestle SA and Unilever Plc, beat expectations and raised their sales guidance this earnings season.

It seems many shoppers were prepared to pay more for their products. Yet this optimism flew in the face of an earlier warning about the sector: On Monday, Walmart Inc, a bellwether for the US consumer, issued a profit warning.

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