One year ago, Walmart Inc. warned that it had seen a sudden slowdown in spending in the second half of October.
Tuesday morning, the retailer once again reported its third quarter results — but this time there was no such dour message. Instead, Walmart delivered a blowout quarter, with US same-store sales excluding fuel up 5.3% in the three months ended Oct. 25. That’s an acceleration from the preceding few quarters, and well ahead of the 3.7% mid-point of analyst expectations. The retailer also upgraded its forecast for net sales and operating profit growth to beyond the top of its previous range.