Walmart gets back to basics as grocery sales grow

Between competition from Amazon, big-box retailer peers and traditional grocery stores, Walmart has a lot to worry about. Last quarter’s results should help ward off at least one fear.

The retailer on Tuesday reported better-than-expected results for the quarter ended April 30, with comparable U.S. sales up 6% compared with the 1.5% growth analysts polled by FactSet had expected, boosted in part by stimulus payments. That growth is especially impressive given that it is being measured against the peak pandemic stockpiling period a year earlier, when comparable sales grew 10.3%. Excluding the effects of some nonrecurring items, earnings per share increased 43% from a year earlier.