Walmart Sees Strong Growth and Receives Praise From President Trump
Walmart has raised its earnings forecast for the year, fueled by a strong US consumer market and a positive economic outlook. The retail giant has experienced an uptick in sales both in-store and online, particularly in groceries, which has contributed to its overall success. This marks the fifth consecutive year of growth for Walmart, showcasing its dominance in the US retail sector.
Following the announcement, Walmart’s stock ticker, WMT.N, surged by 1% during mid-morning trading, benefiting other retailers like Target and Macy’s as well. Chief Financial Officer Brett Biggs noted that consumer spending leading into the holiday season remains robust, indicating a healthy retail landscape.
President Donald Trump commended Walmart’s performance and used it as evidence to support his trade policies, claiming that the tariffs imposed on China have not adversely affected American consumers. Trump took to Twitter to praise Walmart’s positive numbers and emphasized the financial benefits generated by the tariffs.
Industry analysts point to Walmart’s dominant market share in the food and grocery sectors as a key factor in its ongoing success, with 56% of the company’s revenue coming from these industries.
