Walmart Gears Up with Strong Sales Forecast Amid Holiday Season

Walmart has raised its annual sales and profit forecasts for the third time this year, anticipating a surge in online and in-store purchases as the holiday season approaches. The company has reported significant growth in U.S. market share, particularly among upper-income households.

On Tuesday, Walmart announced an increase in its annual sales and profit forecast, marking the third consecutive adjustment, with notable growth in both online and physical store purchases. This suggests a strengthening in market share just ahead of the holiday shopping rush.

CEO Doug McMillon highlighted that in-store traffic, as well as pickup and delivery services, have shown varying degrees of growth, with delivery taking the lead. As inflation shows signs of abating, purchasing power is rising across different income groups, primarily among those earning over $100,000 annually.

In light of these developments, Walmart has adjusted its fiscal 2025 projections, with expectations of consolidated net sales growing between 4.8% and 5.1%. The retailer has also enhanced its private-label and grocery lines to meet consumer demand for affordable essentials and gifts.

(With inputs from agencies.)