Walmart reported earnings that topped analysts’ expectations and raised its forecast for the full year heading into the holiday season. Earnings were fueled by robust e-commerce sales, as the company continues to gobble up online brands to compete with Amazon in categories like apparel and home goods, while also scaling its grocery business. Comparable sales climbed for their 16th consecutive quarter, as existing Walmart shoppers flocked to its stores more frequently and added more to their baskets. The big-box retailer’s revenue fell short of analysts’ estimates, however, due to currency headwinds. It’s taken a hit in recent quarters due to increased investments overseas.
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