It is a rare retailer whose shares trade at a premium to those of Apple, Microsoft and Alphabet. But there are merchants, and then there is Walmart.
Operationally, the 800lb gorilla of American retail is in a class of its own. While others have struggled to entice inflation-weary consumers to open their wallets, comparable sales at Walmart US grew 5.3 per cent during the third quarter. That handily trounced expectations for a 3.7 per cent rise, which is no small feat given Walmart’s size. It pulled in $648bn in revenue last year. Adding to the flex, Walmart upped its full-year guidance for a second time this year.
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