Walmart on Tuesday raised its annual sales and profit forecast for the third consecutive time, with people buying more groceries and merchandise online and at its stores, a sign that it may be gaining market share ahead of the holiday season.

Walmart said U.S. sales rose during the most recent quarter as shoppers bought more groceries, home goods and toys, a sign that spending is off to a steady start at the start of the holiday shopping season.

Walmart stock ($WMT) was down slightly (-0.20%) in Monday trading ahead of the retail giant's third-quarter earnings, with retail sentiment inching up. Walmart’s results are being closely watched for insights into the impact of rising consumer prices on overall consumer sentiment as shoppers – from all income levels – look for bargain purchases.