BENTONVILLE (TB&P) — Walmart delivered a strong one-two punch in the second quarter, according to retail analyst Walter Loeb, who said the strength of digital sales combined with quick delivery boosted sales and earnings ahead of Wall Street estimates.
Loeb said the solid 2.8% domestic comp sales and 37% e-commerce growth confirm the consumer’s trust in the company and validate management’s drive to serve customers more efficiently.
Loeb added Walmart management raising comp sales expectations for the full year are yet another sign the retailer is beating the odds.
“I expect more strength as customers again veer to do discount store shopping. To support this trend, management has indicated that it is looking for alternative sources of supply, thus avoiding the impact of possible tariffs and any negative consumer reactions to them. All of this points to a strong year for Walmart and will improve its competitive position in the market,” Loeb noted.
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