Walmart beats expectations and raises full-year guidance
May 18, 2023
Walmart posted a 7.4 percent gain in U.S. same-store sales, well above the 5.1 percent gain expected by Wall Street. The company also lifted its annual earnings guidance from $6.10 to $6.20 per share, up from $5.95 to $6.05. “It’s a great time to be a merchant,” said Walmart CEO Doug McMillon. “We continue to gain market share in the grocery category, including with higher income and younger shoppers, and we saw good growth in membership income in both (Sam’s Club and Walmart+) businesses.”
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