NEW YORK—Walmart raised its annual earnings forecast on Tuesday after delivering better-than-expected results in the first quarter that showed shoppers splurged on clothing, as well as lawn and garden items. Sales at stores opened at least a year rose 6 percent, slowing from the 8.6 percent increase during the fiscal fourth quarter. But it topped last year’s 10 percent spike when Walmart turned into a pandemic lifeline for millions of people. Online sales rose 37 percent, down from 69 percent during the fourth quarter. “Our optimism is higher than it was at the beginning of the year,” said CEO Doug McMillon. “In the U.S., customers clearly want to get out and shop.” McMillon said government stimulus money boosted sales and there is a lot of pent-up demand as the nation emerges from the pandemic. As people go out more, Walmart said that sales of travel items and teeth whitener are …
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