Walmart Reports Earnings, Raises Guidance
Economists are sounding the alarm over a possible recession, but Walmart’s sales are healthy and growing, indicating that consumer spending is still strong. As a further sign of optimism about the future, Walmart raised its guidance for the remainder of the year. Shares rose about 5% on the news.
Walmart has made bold moves to adapt to a changing retail environment, and its initiatives are paying off. From curbside delivery to a redesigned website, the retailer seems to have cracked the code, efficiently and successfully combining its physical and online operations.
“Combining physical stores with digital options is the future of retail,” Cowen analyst Oliver Chen said in a note to clients Thursday. Walmart “shines here.”