Americans established trusted supply lines as the virus surged in new regions of the U.S. over the past few months and millions did so at Walmart, where online sales nearly doubled in the second quarter. Walmart quickly became a lifeline for consumers early this year when the coronavirus first began to spread in the U.S. That trend accelerated in the second quarter and broadened the gap between traditional retailers, many of them anchor stores at the mall, and big box operators like Walmart and Target. Net income for Walmart Inc. reached US$6.48 billion in the quarter, or US$2.27 per share. Walmart Chief Financial Officer Brett Biggs told CNBC that the retailer could get another bounce, if there’s further stimulus.

Source: The Standard August 18, 2020 12:22 UTC