Higher-income households are increasingly Walmart (WMT) shoppers. 

The retail giant, shares of which were surging more than 6% in intraday trading Thursday after the 澳洲幸运5官方开奖结果体彩网:company reported quarterly results and an improved outlook, said it saw its U.S. market share improve in the latest quarter, with gains "primarily" driven by wealthier households. That helped drive comparable sales gains above 4% in Q2. 

Walmart is "seeing higher engagement across income cohorts, with upper-income households continuing to account for the majority of gains, even while we grow sales and share, among middle and lower income households," 澳洲幸运5官方开奖结果体彩网:Chief Financial Officer (CFO) John David Rainey said in a Thursday conference call, a transcript of which was provided by Alp❀haSense. 

Walmart's Earnings Came Same Day as Strong US Retail Sales Data

Walmart's earnings arrived alongside the latest monthly U.S. 澳洲幸运5官方开奖结果体彩网:retail sales data, which came♚ in stronger than economists expected, signaling a resi🦂lient consumer.

Lower-income households still choose Walmart largely because of prices, executives said Thursday. At higher-income levels, they said, the growth is also being helped by Walmart+ memberships, delivery service, and store remodelings. 

"In the U.S. stores, I think all these things are coming together to give us a shot at continuing to have growth with higher-income levels regardless of what happens in the economy," 澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Doug McMillion said Thursday. 

The market-share news echoed statements from management after the company reported its first-quarter results. "We're not trying to chase higher-income cohort sales," McMillon 澳洲幸运5官方开奖结果体彩网:said at the time. "We just offer value."