Walmart is known for its low prices and no frills approach. So it may come as a surprise that wealthier shoppers are helping to fuel the retailer’s growth. For more than two years, the discounter has noticed more customers with six-figure incomes shopping on its website and in its stores. Households earning more than $100,000 made up 75% of the company’s market share gains in the fiscal third quarter, Walmart CEO Doug McMillon said on the company’s earnings call in November. Those newer and more frequent customers have helped support the company’s aspirations to sell more higher-margin items, such as clothing and home goods. They are driving Walmart’s e-commerce sales, which have grown by double digits for 10 consecutive quarters. And they can boost the retailer’s newer revenue streams, such as subscription-based membership program Walmart+ and its advertising business Walmart Connect. As Walmart reports its latest earnings on Thursday, Wall Street will be…
