E-commerce at Walmart was up 24% in the second quarter. The retailer also reported global revenue was $161.6 billion, a 5.7% rise year over year, the company announced Thursday in an earnings announcement.
Comparable sales for Walmart in the U.S. were up 6.4% for the quarter, while net sales were up 5.4% to $110.9 billion and operating income rose 6.7% to $7.3 billion.
Walmart said it sees strength across segments in its omnichannel model and that consumers continue to respond to economic pressures by spending on essentials versus discretionary items. “We see people across income cohorts come to us more frequently, looking to save money on everyday needs,” CEO Doug McMillon said.
Source: Retail Dive
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