Walmart beats Street estimates for sales on stimulus spending boost

(Reuters) -Walmart Inc raised its full-year earnings forecast on Tuesday and beat estimates for same-store sales as it benefited from additional stimulus checks that put more money in consumers’ pockets and boosted demand for apparel and electronics.

After a bumper year, bolstered by a big push into e-commerce and delivery, Walmart continues to see soaring demand as increased vaccinations and the easing of restrictions bring more people back to its stores.

“Our optimism is higher than it was at the beginning of the year. In the U.S., customers clearly want to get out and shop … We anticipate continued pent-up demand throughout 2021,” Chief Executive Officer Doug McMillon said in a statement.