Walmart Hikes Annual Forecast as Low Price Focus Draws Shoppers

Walmart on Thursday raised its fiscal year sales and profit forecast, driven by strong demand from shoppers across all income levels, who have turned to the world's largest retailer as they worry about rising costs.

Walmart's results show it has continued to benefit from growing price sensitivity among Americans, earning revenue of $177.4 billion in the second quarter. Analysts on average were expecting $176.16 billion, according to data compiled by LSEG.

Consumer sentiment has weakened due to fears of higher inflation, hitting the bottom lines of some...

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