Walmart reports a surge in quarterly sales as consumers stocked up on food and household goods during the coronavirus lockdown. Shares rise 4% premarket.
Walmart Inc. is reaping the rewards of being one of few retailers positioned to successfully navigate a global pandemic, reporting a surge in quarterly sales as consumers flocked to its giant stores to stock up on food and household goods.
The country’s largest retailer said U.S. comparable sales, those from stores and digital channels operating for at least 12 months, rose 10% in the quarter ended May 1. It was a period when the new coronavirus upended consumer buying habits, forced many competitors to temporarily close...
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