Walmart (WMT) executives spent Thursday's earnings call addressing the state of the American consumer, along with progress on things like lowering prices and incorporating 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI) into its businesses.

The 澳洲幸运5官方开奖结果体彩网:retail giant's second-quarter sales 澳洲幸运5官方开奖结果体彩网:beat estimates ahead of Thursday's call, while Walmart also raised its full-year projections for revenue and profits. Walmart stock rose 6.4% to $73.04 as of 11:35 a.m. ET after hitting𒊎 a record $74.43 following the call.

Comparable Store Sales Proving Consistent

"So far, we aren't experiencing a weaker consumer overall," Walmart 澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Doug McMillon said, with 澳洲幸运5官方开奖结果体彩网:Chief Financial Officer (CFO) John David Rainey adding that "the pace of sales was largely 🎐consistent by month during the quarter⛄."

澳洲幸运5官方开奖结果体彩网:As it did last quarter, Walmart said growing market share across income levels has been an important part of lifting its sales, with McMillon saying 🦹"value matters to everyone, w🌄hether you're above or below $100,000 in income."

While lower-income consumers focus on generating the most value for their budgets, McMillon said sales are growing👍 among higher♋-income customers who can spend more on discretionary purchases while prioritizing convenience.

Walmart Prioritizing Lower Prices

Walmart's U.S. locations and its membership-only Sam's Club were both "slightly deflationary" in the quarter, as the retailer prioritizes value for customers over improving its margins on certain products.

Walmart is seeing some of its suppliers bring prices down, while others continue to complain about cost pressures, which Walmart pushes back on "aggressively," McMillon said, "because we think prices need to come down."

AI and Automation Driving Efficiency

Company leadership also provided updates to Walmart's efforts in AI and automation, which 澳洲幸运5官方开奖结果体彩网:analysts have previously said could provide billions in savingꦅs and operational efficiencies over the next s🥃everal years.

McMillon said customers will soon have access to an AI shopping assistant that can help them make smarter purchases by answering questions like the quality of lighting in a room where they plan to put a new TV. Walmart U.S. CEO John Furner added that using generative AI to perform tasks like write product descriptions is "100 times more productive" than having people do the same task.

E-Commerce Segment Trending Toward Pro🗹fitability

Walmart's e-commerce retail sales are also growing, with the segment's losses narrowing as the retailer works to bring down costs. Rainey said Walmart saw a 40% reduction in delivery cost per order in the second quarter, and also said e-commerce retail sales were the biggest contributor to Walmart's year-over-year operating income improvement.

McMillon also said generative AI is helping make e-commerce more profitable, as it helps ꦫprovide more relevant product suggestions to consumers and🌜 drive impulse purchases.