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        <title><![CDATA[Walmart’s online sales soar as shoppers splurge with stimulus checks]]></title>
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            <media:title type="html">Walmart’s online sales soar as shoppers splurge with stimulus checks</media:title>
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        <content:encoded><![CDATA[<p><span >Walmart said its online sales nearly doubled as locked-down consumers armed with stimulus checks stocked up on everything from milk to clothing during the pandemic.</span></p><p><span >The world&#8217;s biggest retailer&#8217;s online sales spiked 97 percent in the most recent quarter ended July 31, with customers increasingly picking up their web-ordered groceries in the store parking lot, the world&#8217;s biggest retailer said Tuesday. </span></p><p><span >Sales at US stores open at least a year jumped 10 percent, blowing past Wall Street&#8217;s forecast of 5.9 percent, according to FactSet. Total revenues grew by 5.6 percent to $137.74 billion.&nbsp;</span></p><p><span >Fresh and frozen deli products including meat and seafood surged in the low 20 percent range, Walmart said, while comparable sales of home goods and apparel grew in the low-double-digit range.</span></p><p>Walmart said that while its US traffic fell 14 percent during the quarter, the average amount customers spent each trip jumped 27 percent.</p><p>&#8220;Customers continued to consolidate store shopping trips,” the company said, “and shifted more purchases to e-commerce.”</p><p><span >The eye-popping growth, however, began to slow in late July, when the $600-a-week federal boost to state unemployment checks began to dry up, Walmart said. Congress is trying to hammer out a new benefit package.</span></p><p><span >“As stimulus funds tapered off, sales started to normalize, but July comps still grew more than 4 percent,” the company said. “With government stimulus spending, we saw increased sales of higher margin general merchandise categories and fewer markdowns.”</span></p><p><span >Shares of Walmart were down by less than 1 percent in morning trading.&nbsp;</span></p>]]></content:encoded>
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