Third quarter earnings to the end of October (16 November) from Bentonville-based Walmart (WMT:NYSE) will provide investors with an invaluable read into the health of the US consumer with the holiday selling season in full swing at the world’s biggest retailer.

Shares in Walmart are testing all-time highs with investors convinced the retailer’s sharp value focus will lure in shoppers and lead to further market share gains this Christmas.

Back in August, the big-box retailer served up the news sales grew by a solid 5.7% to $161.6 billion in the second quarter to July, including robust 6.4% like-for-like growth in the Walmart US business with food a source of strength, while e-commerce sales were up 24% globally.

The $445 billion cap also raised full year 2024 guidance to reflect confidence in its continued momentum and the ‘ongoing customer response’ to Walmart’s value proposition amid sticky inflation. The market will also be keen to hear more on margin improvement and progress in reducing lofty inventory levels, as well as any comments from CEO Doug McMillon on the impact weight loss drugs are having on sales of calorific drinks and snacks. Two days earlier (14 November), Walmart’s fellow American retail titan, the DIY chain Home Depot (HD:NYSE), will deliver its third quarter earnings. [JC]

US UPDATES OVER THE NEXT 7 DAYS

QUARTERLY RESULTS

10 November: Ubiquiti

13 November: Sun Life Financial, Xp

14 November: Home Depot, Sea, Tencent Music Entertainment, Legend Bio, Paladin Energy, Getty Image Holdings, Canadian Solar, Energiser

November 15: Cisco, TJX, Target, Spire

November 16: Walmart, Applied Materials, NetEase, Warner Music, Lenovo Group Gap, Brady

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