NEW YORK: Walmart is raising its sales outlook for the year as Americans, for the first time in a while, began shopping for back-to-school clothes in the second quarter, as well as things to wear when they travel.
Walmart reported on Tuesday earnings of US$4.27 billion, or US$1.52 per share, during the three-month period ended Jul 31. That is a nickel better per share than Wall Street had expected, according to a survey by FactSet.Sales in the most recent quarter rose 2.2 per cent to US$139.87 billion, also better than the US$137.02 billion industry analysts expected.
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