Walmart Q2 results: Profit jumps 53% at $7.9 billion
Reuters citing Walmart chief financial officer (CFO) John David Rainey, shoppers are still “choiceful and discerning" and are focused on buying food and health and wellness products. Shoppers also responded strongly to seasonal events, such as the Memorial Day and July 4 holidays as well as the back-to-school season, indicating that the consumer is not compromising and showing a willingness to spend, Rainey told Reuters.
Shares of Walmart fell slightly in morning trade. They are up 12.3% this year so far.
Its sales at US stores rose 6.4%, excluding fuel, in the three months ended July 31. Walmart said average transactions and the amount of items shoppers put in their carts also rose.
The retailer said its e-commerce income jumped 24% in the US. At its international unit, operating income grew 2.2% during the second quarter after adjusting for currency fluctuations.
Read more on livemint.com
