Walmart's sales are surging and its gaining market share. Allen J. Schaben/Los Angeles Times via Getty Images New York —

Walmart is proving to be America’s antidote to the cost of living crisis.

A growing number of Americans are heading to Walmart for groceries and clothing as inflation and high prices squeeze their budgets: Walmart’s business in the United States is surging and it’s gaining market share from rivals, the company said Thursday in its quarterly financial report.

Walmart has used its massive size and scale to drive down prices and pour billions of dollars into investments such as raising wages, sprucing up stores and building a logistics network for online shopping.

These investments are paying off for Walmart at a moment when many Americans’ finances are stretched

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