The company’s third-quarter earnings report released on 16 November shows that the company’s online sales grew by 50% putting it in a solid position to compete with Amazon, its biggest rival on US soil.
The announcement was followed by a surge in stock value and dividend increases.
Walmart has made strong investments in its ecommerce strategy. In 2016, the US retailer has acquired Jet.com for USD 3 billion and in 2017, acquired online apparel retailer Bonobos. Furthermore, the company has created Store No. 8, an internal venture meant to plan new online retail businesses.
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