Sales driven by higher-income shoppers
NBC News • • general
Key Points:
- Walmart is experiencing growth primarily among higher-income shoppers, with most share gains coming from households earning over $100,000, while lower-income households continue to struggle with stretched budgets and paycheck-to-paycheck spending.
- This trend reflects a K-shaped economy where wealthier consumers, benefiting from stock market gains and wage growth, drive consumer spending, whereas lower-income groups face rising costs in essentials like food, housing, and childcare.
- Despite strong same-store sales growth of 4.6% in the latest quarter, Walmart's profit forecast fell short of Wall Street expectations, causing its stock to drop nearly 1.4%.
- Walmart recently became the first traditional brick-and-mortar retailer to reach a $1 trillion market valuation but lost
