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Walmart says government stimulus money bolstered Q2’s blowout results and analysts are concerned now that it’s been spent

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Walmart Inc. gave some of the credit for its stellar fiscal second-quarter earnings to government financial aid that landed in shoppers’ pockets during the coronavirus pandemic, but the lack of progress in Congress on another economic package is forcing analysts to forecast a pullback in coming months in consumer demand.

Walmart
WMT,
-1.17%

reported adjusted earnings per share of $1.56 on Tuesday, far exceeding the FactSet consensus forecast for $1.25. Revenue of $137.74 billion was up from $130.38 billion last year and ahead of the FactSet consensus for $135.57 billion. U.S. same-store sales rose 9.3% with general merchandise and food leading the way.

“[M]y…



Source marketwatch.com

Walmart says consumer spending dropped as stimulus checks ran out

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