U.S. retailer Walmart raised its annual profit forecast on Thursday for the second time this year, as Americans kept flocking to its stores for inexpensive...
- U.S. retailer Walmart raised its annual profit forecast on Thursday for the second time this year, as Americans kept flocking to its stores for inexpensive everyday essentials and as it sold more higher-margin ads to product companies .
Walmart had another quarter of strong sales that topped almost all expectations with its comparatively low prices proving a powerful draw for millions who have struggled with rising costs for housing, groceries and almost everything else. Walmart Inc. reported earnings of $4.5 billion, or 56 cents per share, in the three months ended July 31. Before the opening bell Thursday, shares of Walmart surged 6%, pulling up the Dow Jones Industrial Average.
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