Recession signs are flashing, but Americans are still shopping at Walmart

News
This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

Fresh off Wall Street’s worst day of the year, Walmart calmed investors worried the US economy could fall into a recession.

Walmart, a Dow stock and bellwether of consumer spending, said Thursday that sales at its jumbo-size US stores increased 2.8% during its most recent quarter compared with the same period a year ago. Walmart also raised its guidance for the remainder of the year, signaling optimism about the strength of its business.

“Our customers’ economic health remains solid and our competitive position is strong,” Walmart CFO Brett Biggs said in prepared comments Thursday.

Shares of Walmart gained close to 6% during pre-market trading and helped stabilize Dow futures.

FOX 2 Newsletters

Sign up for a newsletter from FOX 2 to get updates about news and weather. We offer daily headlines, breaking news, severe weather, and forecast emails.

Popular

Latest News

More News