Consumer
Walmart Posts Best Month Since 2014 as Discount Rivals Slump
- Dollar General’s results disappoint, dragging down Dollar Tree
- Walmart hit the sweet spot with shoppers, JonesTrading says
Shoppers at a Walmart store in Secaucus, New Jersey.
Photographer: Gabby Jones/BloombergThis article is for subscribers only.
August was a blowout month for Walmart Inc. — and a disastrous one for some of its discount-chain competitors — as consumers rein in spending.
Shares of the Bentonville, Arkansas-based retailer surged about 13% in August, notching their best month since November 2014 and adding roughly $69 billion to the company’s market capitalization. A stronger-than-expected second-quarter earnings report fueled by price-conscious shoppers drove the advance.