Walmart Q3 earnings show a distressed American consumer
Walmart just delivered a banger of a quarter—but the news doesn’t bode well for the financial health or confidence of American consumers. In the third quarter, Walmart’s revenue jumped nearly 6% to $179.5 billion. Same-store sales at Walmart U.S. rose almost 5%. Online sales surged 27%. The retailer’s advertising segment saw sales climb over 30%. Memberships grew 9%. Operating costs rose slightly, but gross margins increased by two percentage points. The cherry on top? Walmart raised its full-year sales ...