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Walmart beats earnings estimates as low prices lure bargain hunters

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Walmart raised its full-year forecast and reported better-than-expected first-quarter results on Thursday.

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Walmart, based in Bentonville, Arkansas, is among the first major U.S. retailers to report quarterly results that could shed more insight into how consumers are feeling, particularly after the government reported an unexpected flattening of spending between March and April. Home Depot, the nation’s largest home improvement retailer, said this week that sales declined for the third consecutive quarter to start 2024 as homeowners and prospective buyers wrestled with higher mortgage rates and inflation.The larger the nonprofit, the more likely it is run by a white man, says new Candid diversity report Starbucks last month lowered its sales expectations for the year as visits to its coffee shops slow worldwide. The decline in spending at U.S.

Walmart is also drawing households with income exceeding $100,000 a year and has focused on its home and fashion goods so it can keep them. Revenue rose 6% to $161.51 billion in the quarter, up from $152.3 billion in the year-ago quarter. Analysts expected $159.6 billion, according to FactSet.

 

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