Wal-Mart: Wal-Mart saw online sales surge as it changed up its shipping offers, and also drew more shoppers to its stores in the most recent quarter. The world’s largest retailer said Thursday that sales at established stores rose for the 11th straight quarter, and customer traffic rose for the 10th quarter in a row. That’s a contrast with many rivals that saw both those figures drop. Online sales at Walmart.com rose 63 percent, dramatically up from the 29 percent growth in the previous quarter. Though the company has been buying up smaller internet retailers, Wal-Mart said a majority of the increase was through Walmart.com and was fueled by changes in its shipping strategy and a discount for shoppers who pick up their online orders. Wal-Mart’s shares gained more than 3 percent on Thursday and closed Friday at $78.77.
Foot Locker: Foot Locker Inc. suffered its worst stock decline in more than eight years Friday after first-quarter results missed analysts’ estimates, an outcome the retailer blamed in part on slow income-tax refunds. The shares tumbled 17 percent to close at $58.72, the biggest plunge since the financial crisis was underway in November 2008. Foot Locker was Friday’s biggest decliner in the Standard & Poor’s 500 index by a wide margin. The athletic-shoe chain blamed “unprecedented challenges” last quarter — especially in February, when same-store sales plummeted by a percentage in the low teens. Foot Locker reported first-quarter earnings of $1.36 a share, trailing the $1.38 predicted by analysts.
Campbell Soup Co.: The company’s quarterly sales and profit missed analysts’ estimates, hurt by higher promotions and weak demand for its condensed soups, broths and V8 vegetable juices, and the company warned that its full-year sales could decline. Shares of the company, which also sells Pepperidge Farm snacks and Prego pasta sauce, fell Friday as much as 5 percent then closed down 2 percent at $55.78.