Walmart Raises Profit Forecast Amid Strong Q2 Demand

Walmart delivered a strong second-quarter performance with a 4.2% increase in U.S. sales and total revenue reaching $169.34 billion, surpassing analysts' expectations. The retailer raised its full-year outlook, reflecting confidence in its business model as it benefits from consumers seeking lower-priced alternatives due to inflation. Higher-income shoppers also contributed to Walmart's growth, with increased spending in groceries, personal care, and health products. Online sales surged 22%, bolstered by e-commerce and membership income. Walmart's shares rose significantly following the earnings report, reflecting investor confidence despite broader economic concerns. The company’s success highlights its strategic pivot towards affordability and value, which continues to attract a diverse customer base.