Walmart Gains Market Share Ahead of Holidays

Walmart raises its annual sales and profit forecast due to increased grocery and merchandise purchases, gaining market share ahead of the holidays. The retailer sees significant e-commerce growth and anticipates fiscal 2025 sales rising by 4.8% to 5.1%, driven by upper-income household spending.

Walmart has once again revised its annual sales and profit forecast upwards, with increased grocery and merchandise purchases indicating that the retail giant continues to gain market share in the lead-up to the holiday season. Walmart shares, having surged nearly 60% this year, reached a new record high during early trading.

The retailer, among the first to provide insights into the critical holiday quarter, revealed that U.S. in-store and online sales experienced robust growth. Despite inflationary pressures, Walmart gained traction across various income groups, primarily led by well-off households. The company now projects fiscal 2025 sales growth of 4.8% to 5.1%, adjusting its profit expectations accordingly.

Amid early holiday shopping trends, Walmart joined other major retailers in offering big deals, particularly focusing on private-label brands. Challenges loom with potential 2025 tariffs from the Trump's administration, which could affect pricing. Meanwhile, Walmart's e-commerce strength continues, reporting a global sales boost of 22% as consumers prefer the convenience of online shopping.

(With inputs from agencies.)