Walmart hits $1 trillion in market value for the first time

Walmart ​became the first retailer ever to hit $1 trillion in market valuation on ​Tuesday, riding on a year-long rally ‌that has seen its ⁠shares rise ‌nearly 26%.

The latest milestone for the company came just two weeks after Walmart replaced British drugmaker AstraZeneca in ​the tech-focused Nasdaq-100 Index, home to the most valuable non-financial companies listed on the index.

The ‌Bentonville, ‌Arkansas-based chain has cashed in on wealthier consumers choosing ⁠the convenience of faster deliveries and flocking to the retailer for discretionary categories, such as ⁠apparel and furniture.

US ⁠households, particularly low- and middle-income earners, ‌have been under ‌mounting financial strain for some time due to persistent inflation and a cooling ‍job market. Tariffs and uncertainty surrounding the recent US government shutdown have also weighed on spending.

Despite the challenging backdrop, Walmart's stock has outpaced the 16% rise in the benchmark S&P 500.