Walmart Stock Rises on Strong Earnings Ahead of Holiday Shopping Season

Published On Nov 19, 2024, 7:31 AM

Walmart reported a strong performance in its latest quarterly results, with U.S. sales rising by 5% to $114.9 billion, surpassing analysts' expectations. The increase was driven by more affluent shoppers and higher spending. Walmart also raised its full-year sales and profit forecast, indicating optimism regarding holiday shopping. The company noted that in-store visits and online orders have been increasing, despite some challenges from hurricanes and port strikes. The overall forecast for the holiday shopping season suggests a stable growth trend.

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Stock Forecasts

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Positive

Given Walmart's strong quarterly performance and positive forecasts, particularly with the holiday season approaching, it appears well-positioned to benefit from increased consumer spending. The strong growth in sales and the optimism from management also support a bullish outlook.

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