PREVIEW: Walmart rises as analysts focus on groceries
** Shares of Walmart Inc WMT.N up 0.4% ahead of the heavyweight retailer's qtrly report early on Thur, as investors focus on strong grocery sales
** In its previous report in May, co raised its full-year forecast, sending its shares to biggest one-day gain in four years as its relative reliance on grocery sales gave it an advantage over Target TGT.N and other rivals
** "We expect solid 2Q24 results, reflecting continued unit share gains in grocery, ongoing sequential improvement in non-discretionary items, gains from strategic initiatives, such as digital and store resets, and benefits from rollbacks and selective promotions," TAG analysts wrote in an Aug. 9 preview
** Shares of Walmart have surged 30% in 2024, outperforming the S&P 500's .SPX 14% rise
** Analysts on avg expect qtrly rev up 4.3% to $168.53 bln and adjusted EPS of $0.65 vs $0.61 yr-ago, per LSEG
Reporting by Noel Randewich
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