As more Americans look for deals in the weak economy, Walmart improves its profit estimates.

On Thursday, August 14, 2025, clouds cover the Walmart store in Manchester, New Hampshire.

New York — Walmart won over a wide range of customers, both cash-strapped Americans and the wealthy who have become increasingly concerned about the economy, with another impressive quarter that saw high sales and profits that above Wall Street estimates.

The biggest retailer in the country increased its financial prognosis on Thursday following a solid third quarter, positioning itself for a successful holiday shopping season while rival stores lowered their projections.

Additionally, Bentonville, Arkansas-based Walmart Inc. said on Thursday that it will be moving its common stock listing from the New York Stock Exchange to the tech-heavy Nasdaq. On December 9, it anticipates that its common stock will start trading on the Nasdaq Global Select Market with the same ticker, "WMT."

Given its size and large client base, Walmart's success can be used as a gauge of consumer spending. Walmart claims that over 150 million customers shop on its website or in its shops each week, and that 90% of American homes rely on it for a variety of products.

In prepared remarks, McMillon stated, "We're gaining market share, improving delivery speed, and managing inventory well." "We're in a good position for a successful year-end and beyond."

In the third quarter, comparable sales at U.S. Walmart stores—that is, sales from both physical and online channels—rose 4.5%, falling short of the 4.6% increase in the previous quarter.

In a phone interview with The Associated Press on Thursday, Walmart Chief Financial Officer John David Rainey stated that while middle-class consumers' spending stayed stable, lower-class consumers' purchasing declined over the second half of the quarter. Although the federal shutdown caused the Supplemental Nutrition Assistance Program's benefits to lapse, he claimed that sales recovered.

"The performance of those with higher incomes and those with lower incomes is always different," he stated. However, low-income consumers are extending their money, as evidenced by the recent widening of that difference. Some of the optional items are not being purchased by them.

As a result, the corporation has increased rollbacks, or short-term price reductions, to 7,000.

Other retailers have reported varying outcomes in the interim.

Target's third-quarter earnings plummeted as the company found it difficult to entice customers who are under pressure from persistently high inflation. The Minneapolis business stated on Wednesday that it anticipates that the sales decline would continue into the crucial holiday shopping season.

Home Depot's third-quarter results, which were released on Tuesday, included a significant downturn in the housing market, fewer strong storms making landfall, and increased customer fear in the United States. The corporation increased its projections for sales growth but decreased its fiscal 2025 adjusted earnings forecast.

TJX, the company that runs HomeGoods and TJ Maxx, increased its earnings and sales in the most recent quarter and improved its full-year estimate as it continues to entice customers searching for discounts on fashionable goods.

In the quarter that concluded on October 31, Walmart's third-quarter earnings increased to $6.14 billion, or 77 cents per share. According to a FactSet survey, adjusted earnings were 66 cents, or 6 cents more than Wall Street had anticipated. That is significantly more than the $4.58 billion, or 57 cents per share, the corporation made during the same time last year.

Sales increased by about 6% to $179.5 billion, surpassing most analysts' projections as well.

E-commerce sales increased by 27% worldwide. This comes after a 22% increase in the first quarter and a 25% increase in the second.

Walmart claimed that by altering its product mix and covering a portion of the expenses, it has been able to control increased costs brought on by Trump's tariffs. According to the firm, the average price increase for Walmart products during the most recent quarter was 1.3%. That is more than the 3% increase in total inflation in September.

According to Walmart, the biggest price increases were in the upper single digits for things like electronics, toys, and seasonal merchandise.

The business stated that, in contrast to its August projection of between $2.52 and $2.62 per share, it now anticipates adjusted profits this year to be between $2.58 and $2.63 per share.

Walmart anticipates a 4.8% to 5.1% increase in sales for the year. This represents an increase from the previous predicted range of 3.75% to 4.75%.

FactSet analysts were projecting $2.61 per share.

In late-morning trade, Walmart's stock increased $6.23, or more than 6%, to $106.85.