NEW YORK—Walmart Inc. posted its best quarterly U.S. sales growth in a decade and upped full-year sales and profit outlooks on Aug. 16, sending shares surging as a jump in online and grocery purchases showed it can hold its own against Amazon.com Inc.
The world’s largest retailer is known for its sprawling stores, a factor that could have worked against it as shoppers migrate online. But Walmart is also the top U.S. grocer, providing a lure for customers to visit stores, where they may also make other impulse buys.
