Tuesday's Market Minute: Walmart And Home Depot See Strong Quarters

Walmart Inc WMT and Home Depot Inc HD, two consumer-focused giants, both reported earnings beats this morning. Walmart’s dedication to building out its online ordering infrastructure served it well, with 2Q e-commerce sales up 97%. While other grocery rivals use third-party services like Instacart, Walmart and Target have upped the ante to compete with Amazon.com Inc AMZN, especially with offering free delivery if the customer clears $35. Walmart’s Sam’s Club also saw a 60% increase in new members in the quarter, as America looks for bargains during the fiscal uncertainty of COVID. Home Depot also saw a massive increase in demand, with same-store sales in the second quarter up 23.4%, and the average ticket up 10.1%. DIY projects must be booming – though after the pandemic is over, those sales might drop off as Americans have more to do outside the house, and will hopefully give a boost to other struggling industries. Join us on the TD Ameritrade Network to further break down these earnings and the power of the American consumer!

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