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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Walmart Raises Full-Year Outlook, Beats Q1 Sales
Walmart shines as Q1 sales beat expectations amid economic slowdown and high inflation.