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 company, a bellwether for the retail industry, said its U.S. sales rose 5 percent in the third quarter, as cost-conscious consumers of all incomes sought bargains.

The retail giant says its sales rose in the latest quarter, including strong demand for toys.