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The retailer, which serves as a bellwether for the upcoming holiday shopping season, expects continued higher sales. To that end, Walmart increased its forecast for the full fiscal year, which ...
It forecast a 3% to 4% increase in quarterly sales or between $166.35 billion and $167.97 billion. That is also a bit light, with analysts expecting sales of $167.05 billion.
Earlier this month Fitch Ratings revised its annual real consumer spending forecast for 2024 up to 1.6% from 0.6% based on consumers’ willingness to draw from the money they’ve saved up.
U.S. stocks open lower, with the S&P 500 off Wednesday's record high. Walmart's weaker outlook and tariff uncertainty weigh on sentiment. Gold rises.
Walmart US same-store sales growth: 4.5%, versus 4.62% Sam's Club US same-store sales growth: 5.9%, versus 5.35% Brooke DiPalma is a senior reporter for Yahoo Finance.
Earnings per share are expected to hit 52 cents, the top end of Walmart's forecast provided in February. But those expectations come as Walmart contends with higher than average inventories.
Groceries account for roughly 60% of Walmart's US sales. This past quarter, it introduced a private-label brand called Bettergoods, which offers healthier, higher-quality products at a $5 price point.
The number of transactions and the average amount customers spent during each of those transactions at Walmart was higher in this quarter than it was during the same three months last year.