Walmart raised its outlook for the year after
another surprisingly strong quarter as the
largest retailer in the world flexed its scale
to deal with rising costs and a snarled global
supply chain.
Walmart rerouted goods to less congested ports,
even chartered its own vessels, and said that its
inventory levels actually rose 11.5% from the
same period last year. It boosted market share
gains as a result, particularly with groceries, as it
drew in more Americans stung by prices that are
rising everywhere.
“The sharp increase in inflation has been felt
by many households, especially when it comes
to grocery shopping, and this has created far
more churn in where consumers buy,” said Neil
Saunders, managing director at GlobalData
Retail. “Thanks to its solid low-price credentials,