Walmart increases sales forecast due to e-commerce and affluent shoppers

Shoppers continue to favor Walmart, which raised its full-year earnings and sales outlook ahead of the holiday season, reporting a 4.5% increase in same-store sales in the U.S. The retailer is evolving beyond its traditional identity, emphasizing e-commerce growth, which surged by 27%, and plans to transition to Nasdaq. Outgoing CEO Doug McMillon will be succeeded by John Furner on February 1, as Walmart outperforms rivals like Target, which is struggling with declining sales and corporate layoffs. Walmart is also expanding AI collaborations, partnering with OpenAI for enhanced online shopping experiences.

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