Walmart ups outlook as back-to-school sales take off

Walmart is raising its outlook for the year as Americans returned to shopping for back-to-school clothes and travel goods during the fiscal second quarter

NEW YORK -- Walmart is raising its sales outlook for the year as Americans returned to shopping for back-to-school clothes and travel goods during the fiscal second quarter. Still, concerns are mounting over spending in the months ahead as the delta variant of COVID-19 surges across the U.S. and mask mandates are reinstated. Walmart reported on Tuesday earnings of $4.27 billion, or $1.52 per share, during the three-month period ended July 31. That is a nickel better per share than Wall Street had expected, according to a survey by FactSet. Net profit last year was $6.47 billion, or $1.77 adjusted per share.