Walmart revenue rose in the second quarter as the retail giant benefited from consumers both paying more for goods and stepping up shopping trips to its stores.
Walmart, in its earnings report Tuesday, said it is gaining market share in some categories such as grocery as shoppers grapple with inflation, and that some Covid-19-related costs have shrunk. But higher prices have led shoppers to hold back on some purchases. Walmart is also selling through a glut of inventory leading to higher discounts.
