Shares in US retailer Walmart, deemed a “bellwether” for the US consumer, have reached an all-time peak, propelling its market value above $500bn, says Alexandra White in the Financial Times. The bounce is due to an unexpectedly positive quarterly report.
The company boasted revenues of $161.5bn, while net income jumped to $5.1bn thanks to “lower markdowns and better inventory management”. And the firm’s outlook remains “rosy” owing to “stubborn inflation” prompting wealthier consumers to visit the store.
