Walmart boosts outlook for the 2024 with bargains proving a powerful lure for the inflation weary
By ANNE D’INNOCENZIO
NEW YORK (AP) — Walmart had another quarter of strong sales that topped almost all expectations with its comparatively low prices proving a powerful draw for millions who have struggled with rising costs for housing, groceries and almost everything else.
The nation’s largest retailer also raised its full-year outlook.
Walmart Inc. reported earnings of $4.5 billion, or 56 cents per share, in the three months ended July 31. That compares with $7.9 billion, or 97 cents per share, in the same period last year. Adjusted per share earnings were 67 cents, or 2 cents better than Wall Street had expected, according to FactSet.
Sales rose nearly 4.8% to reach $169.33 billion, also beating expectations.
Comparable store sales — which include online and stores open for the past 12 months — rose 4.2% in the U.S. That compares with 3.8% in the first quarter, and 4%, in the fourth quarter
Global e-commerce sales rose 21%, matching the first quarter’s pace.
More Stories
Burnham says side hustle income tax-free up to £3,000 from April
Andy Burnham said today that people with side hustles will be able to earn up to £3,000 a year tax...
Healey doubles British Business Bank women-led backing to £200m
Female founders will get a new scale-up programme and the British Business Bank will double its commitments to women-led businesses...
Why Nexa Law’s Eliot Hibbert wants lawyers to own their own practices
Eliot Hibbert is the founder and chief executive of Nexa Law, the Oswestry-based consultancy law firm he launched in 2017...
Linux VPS for Scalable Cloud Solutions: Benefits and Use Cases
An online store might initially run its website and database on one machine. Then orders rise. Moving the database or...
French economy ‘headed straight for a wall’ – finance minister
Shrinking output and accelerating inflation have added to Paris’ mounting financial troubles, official figures show France is “headed straight for...
US oil companies tripled profits during Iran war – NYT
American producers and refiners are getting richer, but President Donald Trump may pay the price The US’ largest oil companies...
