Walmart Boosts Forecasts Amid Strong Spending and Holiday Momentum
TL;DR Summary
Walmart's business is thriving, with a notable increase in customers earning over $100,000 annually, contributing to a 5.3% rise in US sales and an 8.2% profit growth last quarter. The retailer has expanded its appeal to higher-income shoppers by enhancing its grocery offerings and competitive pricing, traditionally Amazon's customer base. Walmart's online sales in the US grew by 22%, bolstered by services like buy online, pickup in store, and Walmart+. This growth contrasts with struggles faced by other retailers, many of which are closing stores due to high prices and interest rates.
- Walmart keeps growing with shoppers making more than $100,000 a year CNN
- Walmart hikes its outlook again as shoppers spend more outside the grocery aisles CNBC
- Walmart’s promise of low prices prove to be a powerful draw in the third quarter The Hill
- Walmart raises annual forecasts, betting on strong holiday shopping Yahoo Finance
- Walmart Sees ‘Momentum’ Ahead of Holiday Shopping Season The New York Times
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