Walmart posts Q2 gains

Walmart has reported that its Q2 net income soared by about 33 percent to $7.89 billion, or $2.92 per share, from $5.15 billion ($1.88) a year ago. Total revenues of $161.63 billion beat analyst estimates of $160.27 billion. In Canada, net sales rose by 5.1 percent to $6.1 billion, with comp sales up 4.8 percent. Canadian e-commerce sales grew by four percent. The budget retailer has benefited from increased foot traffic as inflation-pinched shoppers look to stretch their dollars.