(New York) The American supermarket chain slightly raised its forecast for the full year on Thursday in the light of continued growth in consumer spending on its notoriously inexpensive products.
Over the three months from February to April, the first quarter of its fiscal year, the retail giant’s turnover rose by 7.6% to 152.3 billion.
It is driven by the rise in the price of the average ticket, by 4.4% in Walmart stores in the United States for example, but also by an increase in the number of transactions.
The group points out that it has gained market share in food sales, including among wealthier households.
With high inflation and a slowing economy, some consumers are more likely to turn to lower priced establishments.
Boosted by consumer interest in its offer, which is considered inexpensive, Walmart now anticipates a 3.5% increase in sales for the full year, compared to 2.5% to 3% previously.
The supermarket chain also expects adjusted earnings per share for 2023 to be somewhat higher than before (expected between $6.10 and $6.20 vs. $5.90 and $6.05 previously)
In the first quarter, the group saw its operating profit increase by 17.3%.
Its net profit, on the other hand, fell by 18.5% to $ 1.68 billion: Walmart paid more for interest, in the wake of the rate hike initiated by the American central bank, and recorded unspecified losses. .
The action rose 1.85% in electronic trading prior to the opening of the Stock Exchange.