Walmart reported profits and sales above expectations, with adjusted earnings per share of $0.62 and revenue of $179.5 billion, up 6%. Same-store sales in the US rose 4.5%, prompting an increase in fiscal year guidance to 4.8%-5.1%. CEO Doug McMillon praised market share gains and inventory management. Stock fell 2% post-report.

McMillon announced his retirement, with John Furner set to take over as CEO. Grocery sales saw low-single digit growth, driven by price cuts and delivery convenience. Health and wellness also grew, led by pharmacy sales. Walmart plans to move its stock listing to Nasdaq, maintaining the ticker WMT.

Overall, Walmart’s performance exceeded expectations, with strong sales and profit growth across various segments. The company’s strategic focus on market share gains, inventory management, and leadership transition bode well for its future prospects. The move to Nasdaq signals continued growth and innovation in the retail giant’s operations.

Read more at Yahoo Finance: Walmart earnings, sales top expectations as company raises full-year forecasts