Walmart gains high-income shoppers as elevated prices persist

Retail giant Walmart – a key indicator of how the consumer is doing – is still gaining with higher-income shoppers as higher prices continue to restrain household budgets. "We're seeing higher engagement across income cohorts, with upper-income households continuing to account for the majority of the share gains," CFO John David Rainey told analysts on a Thursday earnings call. The company defines the income groups roughly as $50,000 and below, $50,000 to $100,000, and $100,000 and above. WALMART CFO SAYS ' ...