We recently published Trending Analyst Calls: Top 10 Stocks. Walmart Inc (NYSE:WMT) is one of the stocks analysts were recently talking about.
Michael Gunter, Consumer Edge’s head of insights, recently shared some research data on retail companies during a program on CNBC. The analyst said Walmart is among the retailers seeing new shoppers amid inflation.
"Companies like Walmart, Dollar General, Dollar Tree, are seeing an outsized share of their new shoppers, we’re talking in the latest uh fiscal quarter and then continuing into August, coming from high-income shoppers. So, this is this is trade down. It’s relative to their overall customer bases. And it could be that even though high-income consumers are are performing better and holding up better than lower-income consumers with rising asset prices, they’re still looking to manage spending, they’re still looking for deals. And it also is an indication that the efforts that these companies have been putting into attracting high-income consumers with expanding assortments might be working.
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Disclosure: None. This article is originally published at Insider Monkey.
