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Walmart on Thursday raised its full-year forecast, as the discounter leaned on its low-price reputation to draw grocery customers and drive online spending.
The big-box retailer beat Wall Street’s expectations for sales and profits. E-commerce sales for Walmart U.S. also jumped 24%.
Walmart said it now expects full fiscal-year consolidated net sales to increase by about 4% to 4.5%. It said adjusted earnings per share for the year will range between $6.36 and $6.46. That compares with its prior guidance for consolidated net sales gains of 3.5% and an adjusted earnings per share range of between $6.10 and $6.20.
In a CNBC interview, Chief Financial Officer John David Rainey said Walmart saw…
Source cnbc.com
