NEW YORK (AP) — Walmart had another quarter of strong sales that topped almost all expectations with its comparatively low prices proving a powerful draw for millions who have struggled with rising costs for housing, groceries and almost everything else. The nation’s largest retailer also raised its full-year outlook. Walmart Inc.
reported earnings of $4.5 billion, or 56 cents per share, in the three months ended July 31. That compares with $7.
9 billion, or 97 cents per share, in the same period last year. Adjusted per share earnings were 67 cents, or 2 cents better than Wall Street had expected, according to FactSet. Sales rose nearly 4.
8% to reach $169.33 billion, also beating expectations. Comparable store sales — which include online and stores open for the past 12 months — rose 4.
2% in the U.S. That compares with 3.
8% in the first quarter, and 4%, in the fourth quarter Global e-commerce sales rose 21%, matching the first quarter's pace. Before the opening bell Thursday, shares of Walmart surged 6%, pulling up the Dow Jones Industrial Average. Walmart, based in Bentonville, Arkansas, is among the first major U.
S. retailers to report quarterly results and provides a peek into how Americans are feeling about their spending power with signs that the red-hot U.S.
economy may finally be cooling. Hiring by U.S.
employers fell surprisingly sharply in July and the unemployment rate rose for the fourth straight month with higher interest rates taking a toll on businesses a.