Pinching pennies isn’t just for cash-strapped shoppers. More affluent consumers are looking to save money, and they’ve been a key demographic in propelling the continued blockbuster growth of America’s largest retailer.
Walmart posted another knockout earnings Thursday, reporting a 4.8% year-over-year increase in quarterly revenue to $169.3 billion. Second-quarter sales increased 4.2%, beating analysts’ estimates. The retail giant raised its guidance for the rest of the year from 3% to 4%, expecting sales to increase 3.75% to 4.75% for 2024.
