Reported about 2 months ago
Walmart's CFO, John David Rainey, reported that consumers are managing to stay afloat despite ongoing inflation challenges. The retail giant's recent earnings surpassed Wall Street expectations, attributed to a 4.2% sales increase in the U.S., especially in essential categories such as food and health. Walmart also saw e-commerce sales grow by 22%, prompting the company to raise its profit outlook for the year. Analysts believe Walmart's resilience could merit a higher valuation as the back-to-school shopping season begins positively.
Source: YAHOO