Walmart’s strong first quarter driven by consumers seeking bargains with inflation still an issue

(AP) — Walmart is reporting another quarter of strong quarterly results as its low prices pull in shoppers scouring for discounts with inflation stubbornly high. 

The nation’s largest retailer also offered an upbeat outlook, too. 

The nation’s biggest retailer reported profits of $5.10 billion, or 63 cents per share, and revenue rose 6%. 

Both were better than expected. 

Walmart said that its customers are spending more on necessities, while cutting back on discretionary items like home furnishings.