Walmart (Bentonville, Ark.) raised its annual sales and profit forecast thanks to an expected glut in demand for toys and apparel during the holidays, reports Yahoo! Finance.
“We have the people, the products, and the prices to deliver a great holiday season for our customers and members,” CEO Doug McMillon said.
Despite supply chain woes that have plagued most retailers in the third quarter, the big box giant has maintained low prices to keep shoppers returning and chartered its own ships to transport products ahead of the holiday rush. Walmart was able to increase its U.S. inventory by 11.5 percent ahead of the holiday shopping season. It has also hired more than 200,000 new store and supply chain employees in preparation.
