Tax Refunds Up 13.6% Aid Walmart

DA Davidson reports U.S. tax refunds up 13.6% YoY through March 27, the strongest season since 2013.
Average refund rose 6.2% to $2,848 and weekly refund dollars climbed 12.8% YoY, indicating higher consumer cash flow.
DA Davidson highlights 83% correlation between tax‑refund growth and Q1 retail sales, forecasting positive sales outlook for Walmart and auto‑parts retailers.
Coverage includes Walmart, Grocery Outlet, Citi Trends, Carvana and RideNow, suggesting these retailers may benefit from the refund‑driven spending surge.