Walmart Exceeds Earnings Expectations As Shoppers Seek Value Amid High Inflation

Walmart reported higher than expected sales and profits in the second quarter, raising its full-year outlook.
Walmart saw increased foot traffic and strength in grocery, e-commerce, and international sales.
Budget-conscious consumers flocked to Walmart for lower prices on staples as inflation strained household budgets.
Walmart benefited from investments in automation, delivery, and other omnichannel capabilities.
The retailer expressed caution about pressure on consumers from rising interest rates and other economic factors.