*By Carlo Versano*
Walmart, the world's largest retailer, reported its strongest growth in a decade in its second-quarter earnings released before the bell Thursday.
"Every part of the set of numbers were incredible," said Sucharita Kodali, a retail analyst at Forrester.
Revenue for the quarter was $128 billion ー about $2 billion more than expected ー and adjusted earnings per share were $1.29 compared with an expected $1.22.
Walmart said same-store sales were up 4.5 percent for the second quarter, helped by strong grocery and apparel segments. The e-commerce slice of Walmart's business was up 40 percent compared with the same quarter last year.
The retail giant acquired Jet.com two years ago in a bid to attract more affluent, urban shoppers, and bolster Walmart's e-commerce strategy. It appears to be working, Kodali said, but Amazon maintains an online advantage. "It's still a work in progress," she said Thursday in an interview with Cheddar.
Walmart seems to be riding strong consumer spending, low unemployment, and wage growth to better-than-expected earnings. Shares of Walmart stock rose about 10 percent Thursday morning after the company's earnings report.
But Kodali said the retail sector may face headwinds from tariffs, higher input costs for raw materials, and rising gas prices. "All of these things are going to adversely affect Walmart," she said.
Walmart is the third major retailer to beat earnings expectations this week, after Home Depot and Macy's.
Resale platforms do big business – and Mercari just became the first in the U.S. to eliminate all fees for sellers and completely changed how returns work on its platform.
e.l.f.’s affordable price point and makeup and skincare options made it a social media darling – and the company’s CEO says the company even gets product ideas from its audience.
Nearly 40% of Americans choose travel over financial stability, funding trips on credit and sacrificing other budget line items to take a vacation — because live fast or die trying.
Disney shareholders have rallied behind longtime CEO Robert Iger. They voted Wednesday to rebuff activist investor Nelson Peltz and his ally, former Disney chief financial officer Jay Rasulo.
Student loan borrowers have the ability to earn retirement funds pegged to their payments – and the company Summer might be bringing it to your workplace.
It might not be what investors want to hear… but bringing down inflation could mean interest rates stay higher for (even) longer. But it's not all downside.
