A consumer pushes a cart outdoors a Walmart retailer in San Leandro, California, US, on Tuesday, Aug. 19, 2025.
David Paul Morris | Bloomberg | Getty Photographs
Walmart raised its gross sales and earnings outlook Thursday because the retailer posted income positive factors in its fiscal third quarter, pushed by double-digit e-commerce progress and new prospects throughout incomes.
The retailer stated it expects full-year web gross sales to climb between 4.8% and 5.1%, up from its earlier expectations of three.75% to 4.75%. It stated it expects its adjusted earnings per share to vary from $2.58 to $2.63, a slight increase from its prior vary of $2.52 to $2.62.
It marked the second quarter in a row Walmart hiked its full-year forecast.
Walmart’s earnings report is the primary because the Arkansas-based firm introduced a management change. The large-box retailer stated final week that John Furner, the CEO of its U.S. enterprise, will succeed longtime CEO Doug McMillon on Feb. 1.
In an interview with CNBC, Chief Monetary Officer John David Rainey stated shopper habits did not change in the course of the quarter, as customers spent selectively and regarded for offers. He stated Walmart has gained these “value-seeking” prospects throughout incomes, each due to the financial backdrop and its personal strategic strikes.
“Shoppers wish to do enterprise with these corporations which are offering worth, which are delivering the comfort that they’ve come to know and anticipate, and which are executing persistently properly,” he stated.
He stated Walmart noticed an impression from the pause in Supplemental Diet Help Program, or SNAP, advantages, previously referred to as meals stamps, in the course of the extended authorities shutdown. However he stated “that is beginning to rebound now that persons are receiving these funds once more.”
Here’s what the big-box retailer reported for the fiscal third quarter in contrast with Wall Avenue’s estimates, based on a survey of analysts by LSEG:
- Earnings per share: 62 cents adjusted vs. 60 cents anticipated
- Income: $179.50 billion vs. $177.43 billion anticipated
Walmart additionally stated Thursday that it’ll switch the itemizing of its widespread inventory to the Nasdaq and can start buying and selling there on Dec. 9. It’s presently traded on the New York Inventory Change. It’ll have the identical inventory ticker image, “WMT.”
The corporate’s inventory was about flat in premarket buying and selling Thursday. As of Wednesday’s shut, shares of Walmart are up about 11% up to now this yr. That trails the S&P 500’s almost 13% positive factors throughout the identical interval.
As a retail big that pulls customers throughout incomes, Walmart is intently watched as a sign of the well being of the U.S. shopper and the way President Donald Trump’s tariffs are affecting the costs customers pay. It could actually converse to shopper conduct throughout classes, because it sells discretionary objects like make-up and garments together with requirements like milk and bathroom paper.
Walmart has gained extra high-income prospects as even prosperous households sought aid from pricier grocery payments as a result of excessive inflation in recent times. That cohort additionally has responded to retailer remodels and quicker deliveries.
That progress continued in the newest quarter, Rainey advised CNBC. He stated Walmart has gained market share throughout incomes, however “they’re extra pronounced within the upper-income phase.”
A few of these customers have come to Walmart for pace, Rainey stated. The retailer can now ship to about 95% of U.S. households from shops in underneath three hours.
Prospects now expedite a couple of third of its on-line orders from shops to reach in one- or three-hour timeframes, he stated. He stated income associated to these quicker deliveries has elevated 70% yr over yr. The corporate expenses a charge for some speedier orders, and others are included as a advantage of its subscription-based membership program, Walmart+.
The expedited supply service is widespread, even with customers with decrease incomes, he stated. Throughout the weeks of November when SNAP advantages have been paused, Rainey stated Walmart observed a dip in that quantity.
Within the three-month interval that ended Oct. 31, Walmart’s web earnings elevated to $6.14 billion, or 77 cents per share, from $4.58 billion, or 57 cents per share, within the year-ago interval.
Excluding one-time objects, similar to enterprise reorganization expenses, Walmart’s adjusted earnings per share was 62 cents.
Income rose from $169.59 billion within the year-ago quarter.
Comparable gross sales for Walmart U.S. rose 4.5% within the third quarter, excluding gas, in contrast with the year-ago interval. That surpassed analysts’ expectations of 4% progress, based on StreetAccount. The trade metric, additionally referred to as same-store gross sales, contains gross sales from shops and golf equipment open for not less than a yr.
At Sam’s Membership, comparable gross sales rose 3.8%, excluding gas.
Walmart e-commerce gross sales grew by 27% globally, as all segments of the corporate posted sharp positive factors. Within the U.S., e-commerce rose 28%, pushed by will increase in store-fulfilled supply of on-line orders and progress of promoting and its third-party market.
E-commerce gross sales internationally jumped 26% and at Sam’s Membership within the U.S., they rose 22%.
Within the U.S., customers made extra journeys to Walmart and spent extra on these visits. Buyer transactions rose 1.8% and common ticket elevated by 2.7%.
As Walmart positive factors extra digital visitors and provides extra merchandise to its third-party market, promoting has been a significant progress space, too. Within the quarter, its international promoting enterprise elevated by 53%, together with Vizio, the good TV maker it acquired final yr for $2.3 billion. Its U.S. promoting enterprise, Walmart Join, grew 33% yr over yr.
Walmart is mulling one other acquisition after it expanded its third-party market quickly in recent times, as it’s in talks to purchase R&A Knowledge, a startup that works to curb scams and counterfeits, CNBC reported Wednesday.
Like different retailers, Walmart has stated it raised costs on some objects to offset greater prices from tariffs. A couple of third of what Walmart sells within the U.S. comes from different elements of the world, with China, Mexico, Canada, Vietnam and India representing its largest markets for imports, Rainey advised CNBC in Could.
On a name on Thursday, Rainey stated in relation to greater tariff prices, “the strain is actual.” But, he stated Walmart’s crew has been in a position to scale back the impression on prospects by discovering methods to soak up some prices.
Walmart’s outcomes on Thursday adopted cautious updates from Goal, Dwelling Depot and Lowe’s. All three of these retailers lowered their full-year revenue outlooks this week and referred to customers who have been hesitant to make large purchases and hungry for offers.
T.J. Maxx and Marshalls dad or mum firm TJX, however, hiked its full-year forecast, saying it is seeing a “sturdy begin” to the vacations because it caters to value-conscious customers.
Rainey stated Walmart is “going into the vacation fairly optimistic,” saying it is ready with aggressive value factors.
