Walmart Jumps Most in a Year as Retailer Shrugs Off Trade War

CFO says inflation at Walmart stores has been ‘pretty benign’
Stock surges amid market share gains in food, toys, wellness

David Westin and Taylor Riggs report on Walmart’s better than expected quarter.Daybreak: Americas." (Source: Bloomberg)

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By Matthew Townsend and Matthew Boyle

August 15, 2019 at 11:04 AM UTC

Updated on

August 15, 2019 at 1:36 PM UTC

This article is for subscribers only.

Walmart Inc. set a high bar for other U.S. merchants by posting strong second-quarter sales and boosting its full-year outlook -- even with the Trump administration escalating its trade war with China. The shares rose as much as 7% on Thursday, the most intraday since last August.

Comparable sales excluding fuel for Walmart stores in the U.S. rose 2.8% in the period, beating analysts’ estimates. Primarily driving the result was a higher average ticket, or how much each shopper spent, and market share gains in food, wellness items and toys.