(Reuters) - Walmart Inc’s (WMT.N) margins and online sales are expected to benefit in the second quarter as the largest U.S. retailer cashed in on shoppers using government stimulus checks to buy higher-priced products like sneakers and toys along with daily essentials. The majority of stimulus money went to housing, savings and grocery bills, according to an IRI consumer survey. Retailers including Walmart also experienced a surge in sales of items like electronics and clothes in the second...

(Reuters) - Target Corp (TGT.N) on Wednesday reported its best quarterly comparable sales growth and online revenue that nearly tripled as customers took advantage of the retailer’s quick and contact-free delivery to shop for clothes, videogames and home decor. Shares of the Minneapolis-based retailer jumped around 12% to a record high of $153.77 in morning trading after it handily trounced estimates for quarterly profit and revenue. The surging demand seen at big-box chains at the height of...

(Reuters) – Walmart Inc <WMT.N> beat Wall Street expectations with its quarterly revenue and earnings on Tuesday and reported record U.S. online sales as stockpiling drove consumers to its stores and website during the coronavirus pandemic, sending its shares up 3%. The world’s largest brick-and-mortar retailer, like many other essential businesses, has seen a surge in demand late in March and early in April as “shelter-in-place” orders made consumers stock up on staples while limiting their...

(Reuters) – A surge in Target Corp’s <TGT.N> online sales due to panic buying during the coronavirus crisis helped the big-box retailer post better-than-expected quarterly results on Wednesday, even as it grappled with soaring operational costs. Target, like Walmart <WMT.N>, benefited from customers stockpiling staples and cleaning products at the start of the quarter, while demand for non-staple items like beauty products, home goods and clothes rose as stimulus checks arrived late in...

(Reuters) - The Trump Administration’s coronavirus relief payment provided a fillip to sales of major retailers in April as millions of Americans used the money to buy everything from video games to sewing machines even as the country struggles with record job losses. Walmart (WMT.N) and Target Corp (TGT.N) noted in their earnings call this week that quarterly comparable sales, which rose about 10%, got a major boost from increased demand for non-essentials at the end of last month. “Call it...