(Reuters) – Walmart (NYSE:) Inc Tuesday dismissed concerns about a global supply chain crisis impact to increase its annual sales forecasts and profits. Instead, it emphasized the soaring holiday demand.

According to the retail giant, inventory was 11.5% higher in America than the festive season. This is despite the fact that many companies are struggling to fill their shelves due to delays shipping.

Doug McMillon, chief executive officer, said that the company has the right people and prices to offer a memorable holiday season for its customers and members.

Full-year U.S. sales in same stores will be at least 6% more than the company’s previous forecast of an increase between 5% and 6%. From $6.20- $6.35, the adjusted profit should be about $6.40 each share.

Sales at U.S. retail stores that are open less than a year increased 9.2% in the third quarter. Based on Refinitiv data, analysts expected a gain between 7.04% and 7.04%.

Operating, selling, general, and administrative costs increased 3.9% overall in the third quarter while operating income increased marginally to $5.79B.

Walmart reported a 4.3% increase in total revenue to $140.53 Billion, which is better than the expected. The adjusted share price was $1.45.