Walmart reports surge in U.S. sales as shoppers seek relief from rising costs

(ABC36 NEWS NOW) – More Americans are turning to Walmart as they look for relief from the ongoing affordability crisis. In its quarterly financial report released Thursday, the company said its U.S. business is surging and it is gaining market share from competitors.

Walmart reported that domestic sales grew 4.5% last quarter. The retail giant also saw an increase in customer traffic, with shoppers visiting stores more often and spending more during each trip.

The company raised its sales and profit guidance, signaling expectations for a strong holiday shopping season ahead.