Walmart Inc raised its full-year forecasts and beat second-quarter sales and profit estimates on Thursday, citing strong demand for its low-priced groceries and health and wellness products.
raised its full-year forecasts and beat second-quarter sales and profit estimates on Thursday, citing strong demand for its low-priced groceries and health and wellness products."The reports of the death of the U.S. consumer are greatly exaggerated ... The earnings report from the world's largest retailer certainly checked all the boxes," Art Hogan, chief market strategist at B Riley Wealth, said.Sales at Walmart's U.S. stores open at least a year rose 6.
Walmart's average transactions in the U.S. rose 2.9%, while average receipts increased 3.4%, the company said. "I don't want to declare that we are out of the woods here. There is reason to be cautious for the consumer."beat quarterly profit estimates, benefiting from leaner inventory, but in contrast to Walmart, cut its forecast for the year.
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