US retailers are on edge as they enter the crucial holiday season marked by consumer angst. But Walmart's confidence has not been shaken.
While many stores are wary about their year-end sales, Walmart's dominance in the US retail sector may help it be a holiday season winner, drawing in low and higher-income shoppers alike as they grapple with an uncertain economic outlook.
The retail giant on Thursday reported US sales that beat analysts' expectations, rising 4.5% during the three months to 31 October.
Walmart now expects to make a larger profit this year than previously thought, citing success in beating out rivals for shoppers' limited dollars and a rosy holiday sales forecast.
Annual net sales are expected to grow by 4.8% to 5.1%, Walmart said, up from a earlier forecast of 3.75% to 4.75% sales growth.
