Despite supply chain disruptions, Walmart (WMT) raised its expected annual sales and profit forecast in anticipation of a buying surge around the holiday season.

Walmart has been chartering its own ships to move goods from Asia, and because of the company’s size, it has been absorbing the costs which lessened the supply chain disruptions’ effects. The retail company’s inventory levels were up 11.5% in Q3, ending Oct. 31, from the year prior in preparation for the holiday season.

“Our momentum continues with strong sales and profit growth globally. Looking ahead, we have the people, the products and the prices to deliver a great holiday season for our customers and members,” said Doug McMillon, president and CEO of Walmart.

“Leading into the holiday shopping season, we can expect to see consumers spending more for better products, with fewer items under the tree . . . the critical role of impulse shopping will remain muffled,” said Marshal Cohen, chief industry advisor of The NPD Group.

The company says that adjusted profit per share should be around $6.40 versus prior expectations of $6.20 and $6.35. Walmart’s total revenue grew by 4.3% to $140.53 billion and earned 5 cents over Wall Street expectations at $1.45 per share on an adjusted basis, excluding items. The company expects sales to rise over 6% for the year.

Walmart’s net income fell to $3.11 billion from last year’s $5.14 billion.

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