Walmart sales still strong as pandemic eases

Walmart raised its annual earnings forecast on Tuesday after delivering better-than-expected results in the first quarter that showed shoppers, flush with U.S. stimulus payments, splurged on clothing, as well as lawn and garden items.

Sales at stores opened at least a year rose 6%, slowing from the 8.6% increase during the fiscal fourth quarter. But it topped last year’s 10% spike when Walmart turned into a pandemic lifeline for millions of people. Online sales rose 37%, down from 69% during the fourth quarter.

“Our optimism is higher than it was at the beginning of the year,” said CEO Doug McMillon. “In the U.S., customers clearly want to get out and shop.”