Walmart Stores reported better than expected US comparable sales on Thursday, as customers stocked up on food and other supplies ahead of hurricanes and online purchases soared, sending its share price up more than 8.5 per cent. The third quarter marked Walmart’s strongest US sales growth since 2009 despite sluggish demand and competition from Amazon. The retailer has notched more than three straight years of overall comparable sales growth. “Momentum in the business is really strong,” said Walmart chief financial officer Brett Biggs. Online sales soared 50 per cent, exceeding growth at other big retailers but coming in below the previous quarter’s 60 per cent surge.

Source: The Irish Times November 16, 2017 18:22 UTC