Walmart now expects fiscal 2024 earnings to be in the range of $6.36 per share to $6.46 per share, compared to the prior forecast of $6.10 to $6.20
raised its full-year forecasts and beat estimates for second-quarter sales on Thursday, underscoring its strength in offering lower prices on everything from daily perishables and clothes to inflation-squeezed Americans.
Sales at Walmart’s U.S. stores open at least a year rose 6.4 per cent, excluding fuel, in the three months ended July 31, beating estimates of a 4.44 per cent increase, according to Refinitiv data. Walmart is also benefiting from lower supply-chain costs and fewer discounts that were previously put in place to cut down excess inventory.
Walmart said gross margin rate in the second quarter rose 50 basis points, compared to an 18 basis point decline in the first quarter.
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