Walmart raised its annual profit forecast for the second straight quarter after scoring new sales gains with bargain-hunting U.S. shoppers.
Walmart Inc. raised its annual profit forecast for the second straight quarter after scoring new sales gains with bargain-hunting U.S. shoppers.
“We're gaining share and our value proposition continues to resonate, both for value and convenience,” Rainey said in an interview Thursday as Walmart reported results for the three months ended in late July. “The consumer is still spending, but they're being discerning in their spending.” The shares rose 2.6 per cent in premarket trading. Walmart climbed 12 per cent this year through Wednesday, while the S&P 500 Index rose 15 per cent.
The annual outlook includes a headwind of only five cents a share from last-in, first-out accounting, compared with a previous forecast of 14 cents.
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