Retail

Walmart (WMT) Q1 2022 earnings

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People talk outside a Wal-Mart Pickup-Grocery store in Bentonville, Arkansas.

Rick Wilking | Reuters

Walmart‘s first-quarter earnings surged past Wall Street’s estimates on Tuesday as the company reported strong grocery sales and e-commerce growth, and raised its outlook for the year.

Shares were up more than 2% early Tuesday in pre-market trading.

The big-box retailer said more shoppers have headed to its stores and website to spend stimulus checks and to get ready to socialize again as Covid-19 cases decline and vaccination rates rise. 

Notably, e-commerce sales in the U.S. rose by 37% even as consumers return to more normal activities. 

Walmart CEO Doug McMillon said the company…



Source cnbc.com

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