6 sources·Business

Walmart Increases Sales Forecast Amid Strong Holiday Shopping Momentum

Walmart raises its sales outlook as it reports strong earnings, driven by higher consumer spending and e-commerce growth amidst ongoing inflation concerns.

83%

17%

The distribution of story sources: left-leaning (blue), center (light gray), and right-leaning (red).

Reliable

The underlying sources consistently report facts with minimal bias, demonstrating high-quality journalism and accuracy.

Balanced

The underlying sources are either a balanced mix of left and right or primarily centrist.

No highlights available for this story.

Updated: Nov 19th, 2024, 6:42 PM ET

Summary

A summary of the key points of this story verified across multiple sources.

Walmart's third-quarter earnings reflect a 5.5% revenue increase, prompting a revised net sales growth forecast of 4.8%-5.1%. Key factors include heightened discretionary spending, especially among affluent customers, a surge in e-commerce sales, and effective promotional strategies. CEO Doug McMillon noted the importance of low prices, while CFO John David Rainey highlighted ongoing inflation concerns, especially regarding potential tariffs. While sales of general merchandise have rebounded, Walmart is cautious about future pricing impacts. The holiday shopping outlook remains positive, despite potential challenges like a shorter season and unseasonably warm weather.

Perspectives

Compare opinions on this story from liberal (Left), conservative (Right) or center-leaning news organizations.

No center-leaning sources available for this story.

History

A summary of how this story has evolved over the last 24 hours.