Shares expects upcoming third-quarter results (19 November) from Walmart (WMT:NYSE) to confirm the world’s biggest retailer continued to gorge on US market share and grow internationally in the three months to the end of October.

Given its sheer scale, Walmart has been able to push back against inflation, keep costs low and pass on the savings to price-sensitive shoppers and bargain-hunting upper income households alike, enabling it to win market share in groceries, household goods and fashion. As such, investors shouldn’t be surprised to see Walmart raise full year guidance again.

Investors will also be hungry for updates on Walmart’s advertising business, the progress being made with AI and automation initiatives and for chief executive Doug McMillon’s read on the health of the US consumer now that election uncertainty has passed.

Walmart’s shares have surged 60% higher year-to-date to an all-time high of $85 with investors regarding the Bentonville-headquartered behemoth as one of the few retailers capable of competing with Amazon (AMZN:NASDAQ).

On 15 August, Walmart wowed investors with second-quarter earnings which showed US comparable sales up 4.2% for the period to end-July and said it expected annual sales to rise by 3.75% to 4.75%, and adjusted earnings to come in between $2.35 and $2.43 per share, both upgrades on its previous guidance.

US UPDATES OVER THE NEXT 7 DAYS

QUARTERLY RESULTS

18 Nov: Keysight Technologies

19 Nov: Autodesk, Best Buy, Dollar Tree, Jacobs Engineering, Lowe’s, Medtronic, Walmart

20 Nov: Deere&Company, JM Smucker, Nvidia, Target, TJX

21 Nov: Intuit, PDD Holdings

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