Walmart rises on Q1 earnings

The Yahoo Finance Live team discusses the rise in Walmart stock after its Q1 earnings came in stronger than expected.

Video transcript

SEANA SMITH: Let's take a look at some of the biggest movers of the day. First up, we got to talk about Walmart. Shares closing the day in the green, up just about 2 per-- just 1% off the highs of the day, after Q1 earnings came in stronger than expected. The retailer beating on both the top and bottom lines, lifting its full year guidance.

Akiko, a number of data points that were very positive here for the company. Online sales, one thing that stuck out. Inventory levels, some progress there. And also the fact that they are expanding their customer base. More high end shoppers are now shopping at Walmart, and Walmart is working to keep that extra customer base.

AKIKO FUJITA: Yeah. A lot of those tradedowns working to the benefit of Walmart as they bring in new consumers. And also worth noting that the new mix that we keep hearing from retailers is more focused on groceries and everyday items. That plays to the strength of Walmart, and we've seen that reflected in the earnings out today.