Walmart Beats Sales Forecasts On Stimulus Spending Boost

The legendary Walmart raised its full-year earnings forecast on Tuesday and beat estimates for same-store sales.

Shares in the world’s biggest retailer were up about 3% after it reported a strong quarterly sales beat and said it expects fiscal 2022 earnings to increase by high single digits. It had previously forecast a slight decline in profit for the year. Walmart has had a bumper year bolstered by a big push into e-commerce and delivery. While this trend towards shopping online is expected to continue, people are also making their way back to brick-and-mortar stores as vaccinations become more widely available. Visits to Walmart stores around the country grew by 21.7% in April that is according to data.

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