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.