Walmart hikes annual profit forecast on steady demand, shares jump

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Walmart hikes annual profit forecast on steady demand, shares jump
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Shares of the Bentonville, Arkansas-based company rose more than 7% in premarket trading. The blue-chip stock has climbed 30.7% so far in 2024...

-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 is among the first major U.S. chains to report quarterly results that could provide insight into how consumers are feeling, particularly after the government reported an unexpected deterioration in the labor market, raising fears of a recession. The retail bellwether forecast annual adjusted profit per share to be between $2.35 and $2.43, compared with its prior expectations to potentially better or be at the high end of a range of $2.23 to $2.37 per share.Police 'very concerned' about casino plansThe gap year guide for anxious parents – and how to prepare your teen travellers

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