New York (AFP) – Walmart reported better-than-expected quarterly profits Thursday as strong consumer demand during the festive season offset the hit from higher costs. The giant retailer pointed to some $400 million in higher-than-expected supply chain costs at its namesake US division, plus an additional $400 million hit due to employee absences during the Omicron variant of Covid-19. But these effects were countered by “strong underlying trends” at Walmart US, “aided by robust consumer spending and a strong holiday,” Walmart said in an investor presentation. The company highlighted apparel a…