How a US Retail Giant Conquered Inflation

In an economic climate of high inflation, Walmart has emerged as the retail victor, offering cheap goods to cost-conscious consumers. As millions of shoppers grapple with rising prices, the retail titan has managed to attract a wide range of customers, from low-income to high-net-worth households. Since Walmart shares helped the Dow Jones Industrial Average march toward a record high of 40,000 on May 17, Wall Street has been delving into the company’s success story, concluding that its strong earnings have been supported by consumers hunting for bargains. The retail titan’s shares rose by 22 percent year to date and 33 percent since last year, outperforming both the Dow Jones and S&P 500. But why has Walmart become the darling of Wall Street while other retailers, such as Target, are flatlining?...