Walmart, the largest retailer in the United States, on Thursday reported stronger-than-expected growth in sales and profit, and raised its full-year forecast for the second consecutive quarter, as it continued to attract shoppers spending more per visit to its stores.
Comparable sales rose more than 6 percent in the second quarter, versus the prior year, comfortably beating Wall Street’s expectations.
Grocery sales were particularly strong, the company said, while spending on general merchandise fell slightly.
“We had another strong quarter,” Doug McMillon, Walmart’s chief executive, said in a statement.
Home Depot and Target reported declines in their latest quarterly sales, while TJX’s off-price retailers reported a bigger-than-expected rise in sales and the company revised its forecast for the full year higher, like Walmart.
Persons:
Doug McMillon, we’re, ”, TJX’s
Organizations:
Walmart, Home, Target, Marshalls, Home Depot
Locations:
United States, Maxx