Target and Home Depot are slumping. But more shoppers are heading to Walmart for groceries and essentials.
Walmart's sales at stores open for at least a year grew 6.4% last quarter from a year ago, including a 24% increase in online sales. Walmart said its grocery sales increased by high-single digits last quarter.
The company raised its outlook for the remainder of the year, a signal it expects its strong run to continue.
Walmart's stock rose 2% during pre-market trading.
