Online, same-store sales drive Walmart’s Q2

BENTONVILLE, Ark. ― Walmart posted a net loss of $861 million in Q2, compared to profits of $2.9 billion a year ago, largely due to one-time costs such as those stemming from the sale of its majority stake in Walmart Brazil. Excluding those items, the retailer earned $1.29 per share, compared to analyst expectations of $1.22. Sales at U.S. stores open for at least a year climbed 4.5%, excluding fuel price movements, ahead of the 2.38% predicted by analysts. A rebound in grocery, apparel and seasonal categories led the growth. Online sales soared by 40%, following a 33% increase in Q1.