Walmart Inc. logged another quarter of rising U.S. sales even as its online growth slowed, at a time when retailers are navigating rising costs, supply chain snarls and an uptick in Covid-19 cases in many parts of the country.
Comparable sales, those from U.S. stores and digital channels operating for at least 12 months, rose 5.2% in the quarter ended July 30 compared with the same period last year. U.S. e-commerce sales rose 6% from a year ago, when Covid restrictions kept many people home.
Growth slowed from earlier in the year, both online and off, but was still given a boost by government stimulus dollars and a generally strong U.S. economy, the company said Tuesday. Sales increased each month through the quarter, with July the strongest month, Walmart said.
The latest quarterly sales and profits exceeded Wall Street’s estimates. For its fiscal year, Walmart forecast continued sales gains. For the U.S. comparable sales will rise 5% to 6% for the year, Walmart said.
Executives said the company captured market share from smaller players in the grocery business after losing some share earlier in the pandemic. Grocery sales account for a majority of Walmart’s U.S. business.
