Written by Sarah Nassauer
Walmart Inc. WMT -0.50% posted higher second-quarter sales and raised its profit outlook, extending a multiyear streak of growth as the retail giant takes market share from struggling competitors and expands online.
Sales at its U.S. stores and websites operating at least 12 months grew 2.8%, bolstered by strong grocery results, online and off, and an uptick in customer traffic. The company’s U.S. e-commerce sales rose 37% from a year earlier.
“We’re gaining market share. We’re on track to exceed our original earnings expectations for the year,” Walmart CEO Doug McMillon said in a company statement Thursday.
The retailer now expects growth in U. S.comparable sales for the full year to register at the upper end of a previously forecast range of 2.5% to 3%.
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