Walmart raises outlook as consumers spend more on nonessentials, order more deliveries
Published On Nov 19, 2024, 9:06 AM
Walmart reported an increase in discretionary spending by consumers and an uptick in delivery services. The company raised its sales growth forecast for the year to between 4.8% and 5.1%, up from 3.75% to 4.75%. In-store sales grew by 5.3%, benefiting from strength across merchandise categories. The CEO highlighted the positive impact from higher-income customers, and e-commerce sales rose by 22% due to increased use of store pickup and delivery. Overall, Walmart's positive performance suggests improved consumer sentiment going into the holiday season.
Stock Forecasts
WMT
Positive
Walmart's financial outlook and consumer spending trends indicate a strong potential for continued growth as consumers shift back to purchasing nonessentials. With e-commerce and delivery services on the rise, Walmart positions itself well in the competitive retail landscape.
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