Walmart's strong quarterly performance, with a 5.5% increase in same-store sales, highlights its effective strategy of attracting upper-middle-income customers amid rising inflation.
CEO Doug McMillon emphasized Walmart's commitment to providing value, noting that hard work from associates has transformed the business and led to faster profit growth.
The shift towards targeting consumers making over $100,000 annually reflects Walmart's adaptation to changing market conditions, positioning itself against rivals like Amazon.
Walmart's expansion of same-day pharmacy delivery aims to capture a larger share of the wealthier market, enhancing overall profitability as the company grows its home delivery services.
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