Skip to content
Leticia Miranda

Walmart’s Riding High. Consumers Not So Much.

Americans are still shopping, but impulse buying is receding into the pandemic past as inflation starts to squeeze wallets.

Shopping carts are getting lighter with inflation.

Shopping carts are getting lighter with inflation.

Photographer: Bloomberg/Bloomberg

There’s bad news in the good news.

Walmart Inc. lifted investor spirits on Tuesday beating earnings expectations and raising its full-year outlook, suggesting that American consumers kept spending going into the all-important holiday season. Total revenue came in at $152.8 billion, an 8.7% increase from last year and ahead of estimates. The company now expects consolidated net sales for the year to grow about 5.5%, or 6.5% excluding divestitures, and expects earnings to fall by 6% to 7% compared to earlier estimates of 9% to 11%. Its stock rallied as much as 8.6% Tuesday morning off the news.