Who’s afraid of the big, bad price rise? Not Americans. US inflation may have hit a 31-year high in October. But consumers are still eager to spend.
This should be good news for Walmart. The world’s biggest bricks-and-mortar retailer reported strong third quarter sales and raised its full-year outlook. Supply chain disruptions and fears of empty shelves are prompting many Americans to get a head start on their holiday shopping this year.
Do not be fooled by the topline growth. There are reasons shares in Walmart have gone nowhere this year. The stock is down 3 per cent, compared to the near-50 per cent gains at rivals Target and Home Depot.
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