Virus-induced spending spurs sales at Home Depot, Walmart

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NEW YORK (AP) – Americans turned to Walmart and Home Depot to stock up on
supplies and do-it-yourself projects as they stayed close to home at at time when new cases of virus surged, resulting in soaring sales for their fiscal second quarter. Walmart’s online sales nearly doubled in the fiscal second quarter, helped by an expansion of its online delivery services. Sales at U.S. locations opened at least a year jumped 9.3%, the company reported Tuesday. Home Depot, the nation’s largest home improvement chain, reported a 23.4% increase in sales at stores opened at least a year globally, helped by a frenzied pace of do-it-yourself projects. That’s almost twice the 12.2% increase that industry analysts had projected.

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