The discounter Walmart has attracted more high-income households because of inflation and investments in its stores and website.
The big-box retailer has leaned on its grocery business and its low-price reputation to attract shoppers, including more high-income households, during an inflationary period.
The big-box retailer's stock hit a peak of $166.30 earlier in the day. That marks the highest since Walmart first began trading on the New York Stock Exchange in August 1972. As those shoppers come to its stores and website, they're seeing ways that Walmart has tried to step up the customer experience to keep up with more polished, tech-savvy rivals like Target andWalmart has also defied another dynamic in the retail industry.
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