November 16, 2023Business Desk

Walmart raises annual profit and sales forecast amid strong holiday shopping season

Walmart Raises Annual Forecast: Walmart adjusts its annual sales and profit forecast for the second consecutive quarter, signaling a strong start to the holiday season.

Source: Wikimedia Commons

Strategy Amid Inflation: The retail giant maintains low prices, attracting both low and high-income shoppers, resulting in increased market share from groceries to gifts.

Source: Wikimedia Commons

Positive Margins: Profit margins improve, rising 32 basis points in Q3, attributed to reduced reliance on clearance items and easing supply chain costs.

Source: Wikimedia Commons

Fiscal 2024 Outlook: Walmart now anticipates earnings per share between $6.40 and $6.48, up from the previous projection of $6.36 to $6.46, with a 5% to 5.5% increase in full-year comparable sales.

Source: Wikimedia Commons

Holiday Season Initiatives: Walmart intensifies holiday merchandise offerings across various price points, aiming to attract budget-conscious consumers affected by inflation.

Source: Wikimedia Commons