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.

The bellwether retailer reported higher-than-expected sales in its latest quarter and upgraded its forecast for the rest of the year.

Though inflation has not made much headway in recent months, it is on a downward trend, raising purchasing power. Walmart said it saw share gains across income cohorts mainly led by upper-income households, which make more than $100,000 in annual income.

Walmart ratcheted up sales and profits again in the third quarter with its comparatively low prices proving a powerful draw for shoppers seeking to cut spending where they could