Wal-Mart's second quarter earnings exceeded expectations

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      Wal-Mart's performance benefited from increased consumer spending at its stores and websites, indicating that the U.S. consumer economy has not lost momentum, pushing its share price up 6.1% to $112.69.
The growth of Wal-Mart's U.S. business has lasted for 20 quarters, or five years, leaving other retailer chains unprecedented.
On Wednesday, M.N. cut its annual profit outlook, fearing tariff-related price increases and their impact on demand. On Thursday, JCP. N reported a 9% drop in revenue.
Analysts say the differences in performance of these companies indicate that there is no evidence that demand in the economy has declined across the board and that companies with lower growth rates need to improve their business strategies.
U.S. retail sales surged in July as consumers cut back on car purchases while buying a range of goods, helping alleviate financial market fears of a recession. [nL4S25B3MC]
Doug McMillon, Wal-Mart's global president and CEO, said in a statement that consumers are responding to changes in the company's business and that the company's market share is increasing. Wal-Mart said its market share in groceries and general merchandise increased this quarter.
Wal-Mart generates 56% of its revenue from food and grocery sales, which analysts say makes Wal-Mart better at managing tariff pressures than many of its competitors.


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