Walmart's hot sellers? Hand mixers and kitchen tools. In an era of high prices, basic is king

(AP) — Walmart is reporting strong second-quarter sales results as the retailer’s low-price model continues to attract budget conscious consumers in a tough economic environment. 

The nation’s largest retailer boosted its annual outlook, sending shares 2% higher before Thursday's opening bell. 

Walmart earned $7.89 billion, or $2.92 per share, up from last year and adjusted per-share profits of $1.84 was better than Wall Street had expected. 

Sales rose nearly 6% to $161.63 billion.