Consumer
Walmart Raises Outlook on Strong Spending From Value-Seekers
- Retailer’s average ticket size up 2.1% from a year ago
- Upper-income households looking for value drove growth
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Walmart Inc. boosted its outlook for the year on a solid start to the holiday season and strong demand from US consumers searching for value.
Stronger-than-expected sales sent Walmart shares up as much as 4.5% Tuesday morning, adding $24.3 billion of market capitalization. The company’s shares are up nearly 65% year-to-date, far outpacing the S&P 500 Index.