Walmart boosts outlook while warning that higher costs loom

Walmart Inc. raised its full-year sales and profit outlook, a sign the world’s biggest retailer is winning over price-sensitive shoppers while absorbing rising costs. The company now sees net sales rising 4.8% to 5.1%, higher than its previous projection in August. It marks a second increase in the forecast during the fiscal year.

The results are likely to alleviate some concerns that consumers are pulling back amid a cooling job market, corporate layoffs and rising prices. Rival big-box chains have warned that consumers remain cautious, increasing attention on the world’s largest retailer as it prepares to enter its next chapter under a new chief executive officer next year.

"We are keeping a keen eye on what’s going on with the consumer, but feeling good about our business overall,” Ch