Walmart raises annual forecasts, betting on strong holiday shopping
-Walmart on Tuesday raised its annual sales and profit forecast for the third consecutive time, with people buying more groceries and merchandise online and at its stores, a sign that it may be gaining market share ahead of the holiday season.The retailer is among the first major U.S. chains to provide insight into the all-important holiday quarter and how consumers are planning spend as inflation ebbs.
The retail bellwether now forecast fiscal 2025 consolidated net sales to rise in the range of 4.8% to 5.1%, compared with prior expectations of 3.75% to 4.75% growth. Walmart also posted comparable sales growth in its health and wellness category, helped by strong demand for GLP-1 or weight-loss drugs.
To broaden the appeal of its delivery service, Walmart slashed the annual fee for its Walmart Plus membership, by 50% ahead of the holiday season. Walmart Plus members receive unlimited free same-day deliveries from stores on orders over $35.
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