Walmart (WMT) poste🉐d better-than-expected results and raised its guidance as rising prices drove more shopper💦s to the discount retailer.

Walmart reported fiscal 2024 first quarter earnings per share (EPS) of $1.47, with revenue rising 7.6% to $152.3 billion. Both were above analysts’ forecasts. At Walmart U.S., 澳洲幸运5官方开奖结果体彩网:comparable store sales were 7.4% higher, and 澳洲幸运5官方开奖结果体彩网:ecommerce sales so🍎ared 27%, boosted by pickup and delivery, along withꦯ advertising. Transactions increased 2.9%, and the average ticket was 4.4% higher.

The company noted a big jump in grocery sales, lifted by purchases by higher-income customers and demand for Walmart’s lower-cost private label brands.𒁏 Pharmacy sales climbed, but Walmart said general merchandise sales “reflected softness in discretionary categories.”

CEO Doug McMillon pointed to the impact of inflation ✃on consumer behavior, adding customers “are coming to us for value.”

Walmart now anticipates full-year consolidated net sales 🌌will rise about 3.5%, up from the previous 2.5% to 3%, and EPS of $6.10 to $6.20 compared to its earlier ᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚoutlook of $5.90 to $6.05. 

Shares of Walmart rose 1.5% on Thursday following the news, and are up 7% so far this year. The S&P 500 is🌜 up about 9% year-to-date.