Walmart (WMT) on Tuesday raised its annual sales and profit forecast for the third consecutive time, as people bought more groceries and merchandise, a sign the world’s largest retailer continues to gain market share ahead of the holidays.
“I do think Walmart has been capturing a more affluent consumer. I think the Walmart Plus membership has helped drive that and the company continues to reflect good strength in their online business and their pick up and delivery,” Telsey Advisory Group analyst Joseph Feldman said.
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