By  on August 16, 2018

Walmart Inc.’s financial results for the second quarter of 2019 pleased investors on Thursday, sending the stock up $9.78 or nearly 11 percent in pre-market trading to nearly $100, as the retail giant reported a 4.5 percent same-store sales increase, its strongest in more than a decade, beating Wall Street’s consensus estimate of 2.5 percent. Traffic and ticket growth rose more than 2 percent, an indication of solid market share gains against a backdrop of consumer spending confidence, retail analysts said.

“With today’s report, Walmart has finally returned to the ranks of superior performers,” said Craig Johnson, president of Customer Growth Partners. “The steady rebuilding [chief executive officer] Doug McMillon has led for several years now has slowly been gathering steam, but the moves have been so wide-ranging, it’s taken time to break out. The break-out quarter has now occurred, albeit aided by pent-up winter demand that was unleashed in May.”

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