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Thursday, August 16, 2018

Wal-Mart Soars, Plus Big Online Jump

The online move is a big deal.

Walmart soars with fastest sales growth in a decade, big online jump   By Marianne Wilson in CSA

Walmart showed its might in the second quarter, with earnings and sales that topped the Street amid surging digital sales and a jump in store sales.

The discount giant’s revenue rose 3.8% to $128.03 billion in the quarter ended July 31, beating analysts’ estimates for $125.97 billion. Same-store U.S. sales increased 4.5%, led by grocery, apparel and seasonal; foot traffic was up 2.2%. Grocery sales rose the most in nine years, helped by improved fresh-food offerings. Same-store sales at Walmart’s Sam’s Club rose 5%, the biggest increase in five years.

Walmart has been making significant investments online — from its improved e-commerce site to expanded grocery delivery options — and the results appear to be paying off. Online U.S. sales jumped 40% during the second quarter, and the retailer reiterated it is on track to increase U.S. e-commerce sales by 40% for the full year.   ... "

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