Walmart earnings takeaways and what it signals about consumer

Yahoo Finance Video
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Walmart (WMT) has raised its full-year guidance as the retail giant continues to gain market share across all income groups in the US. Yahoo Finance Senior Reporter Brooke DiPalma joins Wealth! to break down the company's latest earnings and where it saw the most growth.

DiPalma notes that upper-income households account for the majority of market share gains at Walmart, and it is continuing to grow sales among low and middle-income households. Most shoppers head to Walmart for groceries, as well as for prescription drugs. Consumers are also slowly returning to buying general merchandise and discretionary goods. For the first time in 11 quarters, the company saw positive inflection in general merchandise, and consumers flocked to its e-commerce segment, Walmart Marketplace.

Catch the full interview with Walmart Chief Financial Officer John David Rainey from Thursday morning.

For more expert insight and the latest market action, click here to watch this full episode of Wealth!

This post was written by Melanie Riehl