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Customers wearing face masks shop at a Walmart on July 15, 2020 in Washington, DC
Sha Hanting | Chinese Press Service via Getty Images
Walmart is expected to release its second quarter financial results before the bell Tuesday as the coronavirus pandemic shakes up consumers’ buying habits.
Here’s what Wall Street expects, based on average analyst estimates compiled by Refinitiv:
- Adjusted EPS: $ 1.25
- Revenue: $ 135.48 billion
- Same-store sales: Up 5.4% in US, according to StreetAccount consensus estimates
In the first few months of the pandemic, the big-box retailer’s online sales exploded as consumers flocked to its website to purchase groceries, bikes, beard trimmers and other items then. that they spent more time at home. Shoppers visited stores less, but filled larger baskets with food and household items like toilet paper.
Walmart has hired more than 400,000 hourly workers since the start of the pandemic to help fill online orders, clean stores and restock shelves.
Wall Street analysts and investors will listen to whether Walmart sales have continued to rise or moderate as lockdowns have lifted across the country. They will also see if the big box retailer provides a financial outlook for the year. The company withdrew its forecast last quarter, saying the pandemic had created “unprecedented variability.”
This story is developing. Please come back for updates.
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