Walmart raises outlook as more US shoppers hunt deals

Core Insights - Walmart reported strong sales and profits for the third quarter, exceeding Wall Street expectations, and is well-positioned for the holiday shopping season [1] - The company is transferring its stock listing from the New York Stock Exchange to Nasdaq, effective December 9, under the same ticker symbol "WMT" [2] - CEO Doug McMillon announced his early retirement, with John Furner set to take over, continuing the company's focus on technology and automation [3][4] Financial Performance - Third-quarter profits increased to US$6.1 billion (77 cents per share), up from US$4.6 billion (57 cents per share) a year earlier [8] - Sales rose nearly 6% to US$179.5 billion, compared to US$169.6 billion in the same period last year, surpassing analyst forecasts [9] - Global e-commerce sales grew by 27%, following previous quarterly increases of 25% and 22% [10] Future Outlook - Walmart raised its adjusted profit per share guidance for the fiscal year to a range of US$2.58 to US$2.63, up from earlier estimates [11] - The company expects sales growth for the year to be between 4.8% and 5.1%, an increase from previous estimates of 3.75% to 4.75% [11] - Analysts are closely monitoring consumer health as the holiday shopping season approaches and how Furner will implement McMillon's strategies [7]