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Sales boom in Walmart stores and surge online

FILE- In this Nov. 9, 2017, file photo, a man pushes a cart while shopping at a Walmart store in North Bergen, N.J. Walmart Inc. reports earnings on T...
FILE- This July 19, 2018, file photo shows a display of scented markers and crayons in a Walmart in Pittsburgh. Walmart Inc. reports earnings on Thurs...

FILE- In this Nov. 9, 2017, file photo, a man pushes a cart while shopping at a Walmart store in North Bergen, N.J. Walmart Inc. reports earnings on T...

FILE- This July 19, 2018, file photo shows a display of scented markers and crayons in a Walmart in Pittsburgh. Walmart Inc. reports earnings on Thurs...

BENTONVILLE, Ark. (AP) — Walmart is raising its outlook for the year after beating all expectations for the second quarter and registering the strongest same-store sales growth in a decade.

Shares surged 7 percent before the opening bell Thursday.

The Bentonville, Arkansas, retailer had a loss of $861 million, or 29 cents because of some sizeable investments. Adjusted for those one-time costs, however, per-share earnings were earnings were $1.29 per share, easily topping Wall Street projections of $1.21 per share, according to Zacks Investment Research.

Walmart Inc. posted revenue of $128.03 billion, also beating projections.

Sales at existing stores jumped 4.5 percent and e-commerce sales grew 40 percent.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WMT at https://www.zacks.com/ap/WMT


Updated : 2020-11-30 10:16 GMT+08:00