Second quarter Walmart sales were up. Here's why.

1. Walmart and Target reported contrasting Q2 earnings, with Walmart's sales rising while Target's slumped, attributed to differences in their product mix.

2. Walmart's diverse offerings, including groceries, attracted cost-conscious customers, leading to a 6.4% sales increase and 24% online sales surge.

3. Grocery and health sales drove Walmart's growth, with private brands offsetting minor drops in general merchandise.

4. Walmart's CEO Doug McMillon emphasized value-seeking and budget-conscious customer behavior due to various economic pressures.

5. Target faced a 5.4% decline in comparable sales due to inflation, evolving shopping habits, and backlash against certain displays.

6. Target customers reduced discretionary spending, favoring experiences like travel, and allocated more to essential expenses due to inflation.

7. Walmart's sales momentum reflected consumer focus on value and convenience, seen through increased purchases of kitchen tools and staples.

8. Walmart raised its yearly outlook, while Target lowered its full-year sales and profit expectations, highlighting the divergent impacts of economic factors on the two retailers.

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