Walmart's first-quarter same-store sales rise 10%, online revenues surge

(Reuters) – Walmart Inc’s (WMT.N) first-quarter U.S. comparable sales rose 10% and the retailer reported a 74% rise in online sales on Tuesday as stockpiling of groceries and other essentials drove consumers to its stores and website during the coronavirus-related lockdowns.

However, the company pulled its forecast for the full-year due to the uncertainty to its business caused by the pandemic.

Operating income rose 5.6% to $5.22 billion in the quarter ended April 30.

Source: Read Full Article