Inflation-weary shoppers flock to Walmart | CNN Business

Walmart\n \n , America’s largest retailer, posted strong sales last quarter and raised its outlook for 2023. The company said Thursday that sales at stores open for at least one year increased 7.4% during its latest quarter compared with the same stretch last year. Its operating income increased 17.3% last quarter. Walmart\n \n raised its sales forecast for its next quarter and the full-year, sending its stock up 1.5% during pre-market trading.

Walmart’s grocery sales increased by low double-digits last quarter, the company said. Food prices have climbed in recent years, and Walmart said wealthier households have been shopping in its stores more frequently. Other shoppers are trading down into Walmart’s cheaper private-label food brands to save money. “Customers continue to seek value given the impact of inflation,” Walmart CEO Doug McMillon said on a call with analysts.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

First on CNN: CEOs warn of 'devastating scenario' if America defaults | CNN BusinessAmerica’s CEOs plan to send a dire warning to lawmakers Tuesday that the economy faces potential devastation if Congress and the Biden White House cannot reach an agreement to raise the debt ceiling and avoid a default.
Source: CNN - 🏆 4. / 95 Read more »

Danone-backed Indian yoghurt maker Epigamia shelves plan to sell inflation-hit businessIndian yoghurt maker Epigamia, backed by French dairy giant Danone , has shelved plans to sell its inflation-hit business and is now looking to expand to new markets, its CEO said in an interview.
Source: Reuters - 🏆 2. / 97 Read more »

First strippers' union in a decade is expected to form this week | CNN BusinessThe owners of Star Garden Topless Dive Bar in North Hollywood expect to recognize and negotiate with a union of strippers who had been dismissed from the club in March 2022, when they protested for safe working conditions and picketed outside for months.
Source: CNN - 🏆 4. / 95 Read more »

Use it or lose it: Google says it will delete inactive accounts | CNN BusinessIf you haven’t logged into your Google account in a long time, you better use it or lose it.
Source: cnni - 🏆 326. / 59 Read more »