Walmart’s Annual Outlook Is Key as Stock Rally Looks Unstoppable

Walmart Inc.’s blistering stock rally has shown no signs of cooling, with shares posting their strongest start to a year in more than three decades. Now, Wall Street is turning to the retailer’s earnings report on Thursday for confirmation that recent exuberance is justified.

Fresh off their best annual performance since 1998, Walmart shares have climbed another 15% to start 2025, handily outperforming the broader market and propelling the stock to fresh records. While expectations are high, analysts and investors are optimistic that strong fourth-quarter results and a solid outlook for the year, driven by Walmart’s market-share gains and the growth of its higher-margin ancillary businesses, will set the stage for further stock appreciation.