Walmart posts another strong quarter, but shoppers spending less per trip

abcnews.go.com:

Walmart reported another quarter of stellar results, ending the year on a high note as its low prices attract shoppers looking for deals in an economically challenging environment beset by a recent bout of inflation

NEW YORK — Walmart reported another quarter of stellar results, ending the year on a high note as its low prices attract shoppers looking for deals in an economically challenging environment beset by a recent bout of inflation.

Yet inflation is fading fast, meaning Walmart customers are spending less per trip as a result and on Tuesday, the company released a modest earnings forecast.

Walmart also confirmed that it would buy smart TV maker Vizio for $2.3 billion to boost its advertising business. The deal gives Walmart access to Vizio’s SmartCast operating system, which would allow Walmart to offer its suppliers the ability to display ads on streaming devices. Walmart said Vizio’s SmartCast system has 18 million active accounts. The Wall Street Journal was the first to report last week that a deal was in the works.

In addition, Walmart announced it's biggest dividend hike in more than 10 years. Shares rose 5% in morning trading on Tuesday.

The American consumer has remained resilient, propped up by a strong labor market and steady wages. But they pulled back on spending in January after the holiday season splurge.

Walmart, based in Bentonville, Arkansas, is among the first major U.S. retailers to report quarterly results which could provide more light on how consumers are feeling, particularly after the government reported a significant decline in consumer spending last month.

Home Depot reported Tuesday that sales continued to fade during the fourth quarter as the country’s largest home improvement