Walmart Wins Market Share As Shoppers Seek Grocery Discounts And Faster Shipping

Walmart posted rapid sales growth and raised its outlook, reinforcing its strength in retail as shoppers face higher prices, according to The Wall Street Journal. The retail giant said grocery discounts, faster shipping and higher-end fashion offerings are drawing shoppers despite inflation pressures. Walmart’s U.S. comparable sales rose 4.6% in the quarter ended August 1st. Walmart’s growth outpaced rivals as Home Depot and Lowe’s posted about 1% sales growth, while Target’s comparable sales fell 1.9%. Costs climbed due to a $450 million settlement over worker and shopper injury claims and job cuts. Those were offset by stronger e-commerce margins, better inventory management, and higher ad revenue.