Walmart (WMT:US), the U.S. retail giant, has raised its adjusted earnings per share forecast for the full year after the second-quarter outperformance.

Walmart now expects adjusted EPS to range from $6.36 to $6.46, higher than the previously projected range of $6.10 to $6.20 and exceeding the Bloomberg Consensus estimate of $6.28.

The new forecast calls for net sales growth of around +4% to +4.5%, up from the earlier projection of about +3.5%.

The company forecasts adjusted EPS for the third quarter to range from $1.45 to $1.50, with the consensus estimate standing at $1.49.

In the second quarter, Walmart's total U.S. comparable sales, excluding gasoline, increased by 6.3%, surpassing the estimate of 4%. Inventories stood at $56.72 billion, lower than the $59.92 billion reported for the year-ago period.

The adjusted EPS for the second quarter stood at $1.84, surpassing the estimate of $1.70. Revenue for the quarter reached $161.63 billion, marking a 5.7% year-on-year growth, exceeding the consensus of $159.72 billion.

“We had another strong quarter,” said Doug McMillon President and CEO of Walmart.

“Food is a strength, but we’re also encouraged by our results in general merchandise versus our expectations when we started the quarter. Our associates helped deliver increases in transaction counts and units sold, and profit is growing faster than sales. We’re in good shape with inventory, and we like our position for the back half of the year.”

Lawmakers were selling WMT shares throughout the first 6 months of the year. For instance, Rep. Scott Franklin reported the $15,000 - $50,000 sale of WMT shares on February 21, when the stock closed at $147.33.

Walmart stock was seen trading around $159 apiece on Thursday.