6 sources·Business

Walmart Increases Sales Forecast Amid Strong Holiday Shopping Momentum

Walmart raises its sales outlook as it reports strong earnings, driven by higher consumer spending and e-commerce growth amidst ongoing inflation concerns.

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Updated: Nov 19th, 2024, 6:42 PM ET

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Walmart's third-quarter earnings reflect a 5.5% revenue increase, prompting a revised net sales growth forecast of 4.8%-5.1%. Key factors include heightened discretionary spending, especially among affluent customers, a surge in e-commerce sales, and effective promotional strategies. CEO Doug McMillon noted the importance of low prices, while CFO John David Rainey highlighted ongoing inflation concerns, especially regarding potential tariffs. While sales of general merchandise have rebounded, Walmart is cautious about future pricing impacts. The holiday shopping outlook remains positive, despite potential challenges like a shorter season and unseasonably warm weather.

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