(Reuters) – Walmart raised its annual sales and profit forecast for the third straight time on Tuesday as consumers bought more food and merchandise online and in its stores, a sign the retailer could gain market share in the near future. the approach of the end of year holidays.

Walmart stock, which has soared nearly 60% this year, was up about 4% in pre-market trading Tuesday.

The retailer is among the first major U.S. chains to provide guidance on the crucial holiday quarter and consumer purchasing behavior as inflation slows.

“In the U.S., in-store volumes increased, in-store pickup grew even faster, and in-store delivery grew even more,” said Doug McMillon, Walmart CEO.

Although inflation has not changed much recently, its downward trend increases purchasing power. Walmart reported market share gains among all income groups, primarily among households earning more than $100,000 a year.

The retail giant now expects consolidated net sales to rise 4.8% to 5.1% for fiscal 2025, compared to earlier forecasts of 3.75% to 4.75%.

It also expects annual adjusted earnings per share of between $2.42 and $2.47 (2.29 and 2.33 euros), compared to an earlier forecast of $2.35 to $2.43.

For the third quarter, for which the group published results on Tuesday and which ended October 31, Walmart posted same-store sales in the United States up 5.3%. Analysts were expecting an increase of 3.61%, according to LSEG data.

Sales increased across all categories, including the general merchandise segment, which has suffered declines for more than two years due to inflation.

(Reporting by Ananya Mariam Rajesh and Aishwarya Venugopal, with contributions from Juveria Tabassum in Bangalore; by Noémie Naudin, editing by Kate Entringer)

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