Walmart sales growth was the best in a decade

So much for all those worries that Walmart was losing ground to Amazon.Walmart delivered its best US ...

Posted: Aug 17, 2018 8:29 AM
Updated: Aug 17, 2018 8:29 AM

So much for all those worries that Walmart was losing ground to Amazon.

Walmart delivered its best US sales growth in more than a decade, and digital sales surged 40%.

Some analysts were worried that growth in Walmart's numerous digital operations, including Jet, ModCloth and Moosejaw as well as Walmart.com, were starting to slow.

But a stellar earnings report Thursday may put those fears to rest. Moody's lead retail analyst Charlie O'Shea called it "a banner quarter on multiple fronts."

Overall sales at US stores open at least a year rose 4.5%. Walmart also raised its outlook for the year.

The stock soared 9%, helping the Dow to a gain of almost 400 points, its best showing in four months.

Walmart's Sam's Club warehouse unit, a competitor of Costco and BJ's Wholesale, reported same-store sales growth of 5%, the best in six years.

And Walmart reasserted itself as a leader in the supermarket business. It has battled for market share with Amazon and its Whole Foods unit, as well as supermarket leader Kroger.

But Walmart's grocery sales growth was one of the highlights in the quarter. Walmart CEO Doug McMillon vowed that Walmart will continue to "aggressively roll out grocery pickup and delivery in the US."

Moody's O'Shea liked that news, too. He said Walmart's food business "continues as a bright spot, with rapid rollout of in-store pickup well underway, and product delivery expanding as well."

Walmart's results may also help reassure investors after disappointing sales from Macy's on Wednesday led to a retail sector bloodbath. Many prominent retail stocks plummeted more than 10%.

Shares of Target rose Thursday. Costco was higher, too. So were shares of Nordstrom, the high-end department store chain which will report earnings after the closing bell Thursday.

But JCPenney shares plunged more than 25% to below $2 a share after the struggling department store company reported a bigger than expected loss and yet another steep decline in sales.

Mississippi Coronavirus Cases

Data is updated nightly.

Cases: 314710

Reported Deaths: 7254
CountyCasesDeaths
DeSoto21646260
Hinds20369416
Harrison17949309
Rankin13643278
Jackson13450246
Madison10113217
Lee9986174
Jones8384163
Forrest7689152
Lauderdale7198240
Lowndes6403148
Lamar623686
Lafayette6203119
Washington5341134
Bolivar4802132
Oktibbeha462998
Panola4596107
Pearl River4519146
Marshall4450103
Warren4393121
Pontotoc420872
Monroe4115133
Union411176
Neshoba4031176
Lincoln3969110
Hancock379586
Leflore3498125
Sunflower336290
Tate334784
Pike3327105
Scott316274
Alcorn313368
Yazoo311770
Itawamba300577
Copiah297465
Coahoma295579
Simpson295388
Tippah288768
Adams286982
Prentiss280060
Marion269380
Leake268473
Wayne262841
Grenada261587
Covington259881
George248148
Newton246862
Winston227581
Tishomingo227067
Jasper221148
Attala214473
Chickasaw208057
Holmes189174
Clay185554
Stone182833
Tallahatchie178941
Clarke178080
Calhoun170932
Yalobusha164638
Smith162534
Walthall134245
Greene130633
Lawrence128724
Montgomery127142
Noxubee126734
Perry126338
Amite123142
Carroll121829
Webster114532
Jefferson Davis107133
Tunica105726
Claiborne102430
Benton100025
Humphreys96733
Kemper95828
Franklin83923
Quitman81116
Choctaw76418
Wilkinson67531
Jefferson65728
Sharkey50217
Issaquena1686
Unassigned00

Alabama Coronavirus Cases

Cases: 537813

Reported Deaths: 11024
CountyCasesDeaths
Jefferson791691529
Mobile41177808
Madison35002507
Tuscaloosa25871454
Shelby25076249
Montgomery24549591
Baldwin21290309
Lee15946171
Calhoun14556319
Morgan14364280
Etowah13890353
Marshall12262223
Houston10602282
Elmore10115206
Limestone10031151
St. Clair9890245
Cullman9730194
Lauderdale9449243
DeKalb8853188
Talladega8325176
Walker7259277
Autauga6971108
Jackson6830112
Blount6750139
Colbert6317134
Coffee5546119
Dale4869113
Russell444338
Chilton4343113
Franklin426282
Covington4138118
Tallapoosa4040152
Escambia394577
Chambers3581123
Dallas3564153
Clarke351361
Marion3137101
Pike311977
Lawrence302298
Winston275673
Bibb263064
Geneva252577
Marengo249664
Pickens234862
Barbour231956
Hale223677
Butler217869
Fayette212462
Henry189644
Cherokee184345
Randolph182042
Monroe178140
Washington167639
Macon160750
Clay156957
Crenshaw153357
Cleburne149241
Lamar143035
Lowndes139653
Wilcox127430
Bullock123041
Conecuh110629
Coosa108928
Perry107826
Sumter104932
Greene92634
Choctaw61024
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