Walmart (WMT) - Get Free Report reported stronger-than-expected second quarter earnings driven by strong performance in grocery sales and back-to-school spending. The retailer reported adjusted earnings of $1.78 per share on revenue $141.05 billion.
The stock opened slightly higher amid the broader selloff, despite the the retailer saying digital sales slowed sharply over the three months ending in July.
Jim Cramer told Action Alerts PLUS senior analyst Jeff Marks that the American consumer is opting toward caution amid continued delta variant fears, making Walmart a great defensive play.
Catch his full take on the stock in the video above.
Recap TheStreet Live: Everything Jim Cramer Is Watching 8/17/21
Walmart is a holding in Jim Cramer's Action Alerts PLUS charitable portfolio.