Walmart Raises Full-Year Outlook, Beats Q1 Sales

Walmart shines as Q1 sales beat expectations amid economic slowdown and high inflation. Consumers opted for Walmart over traditional supermarkets, impacting rivals like Target. Early trading saw Walmart shares rise 2%. The company increased its full-year earnings per share forecast to $6.10-$6.20, surpassing previous estimates of $5.95-$6.05 per share. Walmart CEO, Doug McMillon, noted market share gains in grocery, attracting higher income and younger shoppers. Membership income also showed promising growth. A prosperous time for the retail giant.

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