Walmart: Defying Economic Odds with Trillion-Dollar Valuation
Walmart achieves a historic $1 trillion market valuation, driven by a 26% rise in shares over the past year. The retailer benefitted from affluent customers preferring fast deliveries, overshadowing economic pressures faced by low- and middle-income households due to inflation and a cooling job market.
Walmart made history by becoming the first retailer to achieve a $1 trillion market valuation, thanks to a year-long rally that saw its shares surge nearly 26%.
This accomplishment comes shortly after Walmart joined the tech-centric Nasdaq-100 Index, replacing AstraZeneca. Analysts attribute its success to appealing to wealthier consumers opting for convenient, fast delivery options in discretionary categories like apparel and furniture.
Despite economic pressures such as inflation and a sluggish job market impacting U.S. household spending, Walmart's stock has managed to outperform the S&P 500's 16% rise amidst the challenging economic backdrop.
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