Analysts say that Walmart Inc.’s second-quarter results show that each part of the business is putting in the necessary work to achieve growth, even its robot floor cleaners.
Walmart WMT, +0.27% reported second-quarter earnings that beat expectations and a 37% increase in e-commerce sales. Revenue of $129.39 billion, however, was below the FactSet consensus. “In 2Q, Walmart U.S. was going up against its toughest same-store sales compare in 10 years. Still, it was able to generate 2.8% core same-store sales as it dialed up price investments,” wrote UBS in a note. “Plus, it continues to find new ways to control expenses as it learns from [zero-based budgeting] and increases its use of automation .
“Walmart struck a nice balance between driving operational efficiency and reinvesting for growth,” wrote analysts led by Edward Yruma. “The U.S. consumer environment looks more uncertain, making the strategic and tactical improvements Walmart has made even more vital.”Bank of America says Walmart got some help from the healthy state of lower-income consumers, given the low unemployment rate, the e-commerce business and the continued strength in general merchandise and fresh food.
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