Walmart Boosts Annual Forecasts Amid Rising Holiday Demand

Walmart has raised its sales and profit forecasts for the third time this year, driven by increased purchases both online and in stores. This growth, ahead of the holiday season, is attributed to Walmart's competitive pricing and expanded product range, gaining shares across all income levels, especially the upper-income households.

In a strategic move, Walmart raised its annual sales and profit forecasts for the third time this year, underscoring its expanding market share ahead of the holiday season. This surge in consumer spending is fueled by more grocery and merchandise purchases, both online and in physical stores.

Walmart's initiative comes as company shares have climbed nearly 60% this year, demonstrating significant market confidence. The retail giant is one of the first major U.S. chains to offer insights into holiday spending trends amidst easing inflation pressures. CEO Doug McMillon noted that in the U.S., in-store and online sales are accelerating, especially among households earning over $100,000 annually.

Forecasts for fiscal 2025 indicate a growth in consolidated net sales between 4.8% to 5.1%, with profit per share expected to increase. As part of the holiday strategy, Walmart has cut fees for its Walmart Plus membership and invested in automation, further solidifying its presence in the competitive retail landscape.

(With inputs from agencies.)