Nov 19, 2024 - Business
Charted: Walmart's good tidings
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Walmart shares hit a record high today after the company reported strong sales, raised its outlook and indicated that the holiday shopping season is looking merry and bright.
Zoom in: The retail behemoth reported 5.3% growth in U.S. comparable sales (excluding fuel) over last year's third quarter, crushing Wall Street's expectations of 3.6%, according to Bank of America.
- Global e-commerce sales spiked 27%, while the company's budding global advertising business rose 28%.
What they're saying: The retailer is hitting a "trifecta of everyday low price value, technology and convenience," TD Cowen analyst Oliver Chen wrote in a research note.
