Consumer
Walmart Sales Surge as Wealthier Shoppers Flock to Retailer
- Company touts rosier outlook, 3.8% jump in same-store sales
- Customers prioritize staples over big, discretionary purchases
This article is for subscribers only.
Walmart Inc. breezed to another quarter of sales growth and said it now expects the full year to be slightly better than planned as the big-box retailer attracts consumers looking for essentials and discounts.
Sales rose 3.8% at US Walmart stores open at least a year for the quarter ended April 26, higher than what Wall Street was anticipating. With inflation easing, the average ticket was flat but the number of transactions rose by 3.8% from a year ago. E-commerce was a big driver, jumping 22% during the same period, as well as upper-income households that the retailer said drove the bulk of its gains.