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Walmart Sales Soar on Consumer Stockpiling and Online Shift

  • CFO describes roller coaster ebb and surge of consumer demand
  • Focus now shifts to whether consumers will keep up the pace
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Walmart's 'Solid' Report a Good Sign for Discount Retailers: Analyst Grom
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Walmart Inc. jumped on Tuesday after reporting coronavirus-related stockpiling led to a surge in quarterly sales, underscoring the company’s strong position amid widespread carnage in the U.S. retail sector.

Comparable-store sales, a key retail metric, increased 10% for U.S. Walmart stores in the period, compared with the 8.6% estimate compiled by Consensus Metrix. That’s the fastest pace of growth in almost two decades. Profit in the quarter also beat expectations.