Walmart boosts its outlook for 2024 with bargains proving a powerful lure for the inflation weary

Walmart Inc. reported another quarter of strong results Thursday as inflation-weary shoppers continue to be drawn to its low prices as they grapple with still high prices on everything from rent to groceries. The nation’s largest retailer, based in Bentonville, Arkansas,also raised its annual outlook. Walmart reported earnings of $4.5 billion, or 56 cents per share, in the three months ended July 31. That compares with $7.89 billion, or 97 cents per share, in the year-ago period. Adjusted results were 67 cents per share for the latest quarter, beating analysts’ projections for 65 cents, according to FactSet.Sales rose nearly 4.8% to $169.33 billion, above analysts’ projections for $168.56 billion