Walmart (WMT) post𒀰ed better-than-expected results a🐟nd raised its guidance as rising prices drove more shoppers to the discount retailer.

Walmart reported fiscal 2024 first quarter earnings per share (EPS) of $1.47, with revenue rising 7.6% to $152.3 billion. Both were above analysts’ forecasts. At Walmart U.S., 澳洲幸运5开奖号码历史查询:comparable store sales were 7.4% higher, and 澳洲幸运5开奖号码历史查询:ecommerce sales soared 27%, boosted by pickup and delivery, along🌳 with advertising. Transactions increased 2.9%, and the average ticket w🍎as 4.4% higher.

The company noted a big jump in grocery sales, lifted by purchases 🐻by higher-income customers and demand for Walmart’s lower-cost private label brands⭕. Pharmacy sales climbed, but Walmart said general merchandise sales “reflected softness in discretionary categories.”

CEO Doug McMillon pointed to the impact of inflati𝓀on on consumer behavior, adding customers “are coming to us for value.”

Walmart 🦋now anticipates full-year consolidated net sales will rise about 3.5%, up from the previous 2.5% to 3%, and EPS of $6.10 to $6.20 compared to its earlier outlook of $5.90 to $6.05. 

Shares of Walmart rose 1.5% on Thursไday following the news, and are up 7%ไ so far this year. The S&P 500 is up about 9% year-to-date.