Walmart. which has been busy adding partners and perks to bolster its e-commerce business to better take on Amazon, saw online sales soar in the most recent quarter.
The nation's biggest retailer reported a 50% increase in online sales during the quarter.
It also continued to outpace many of its brick and mortar peers with increased sales, traffic and revenue during the three month period that ended October 31.
The company has been revamping its stores, and honing its customer service, changes that seems to be paying of as sales at stores open at least a year, a key industry measure of financial performance, rose 2.7%, in the last quarter. Traffic, which has been falling off at many retailers as more consumers shop online, saw a 1.5% uptick.
"We have momentum,'' Doug McMillon, Walmart's president and CEO said in a statement, "and it's encouraging to see customers responding to our store and eCommerce initiatives.''
More: Target hits its mark: sees slight uptick in sales
More: Macy's sales down as upcoming holiday shopping season poses crucial trial
More: Nordstrom sales slip and so does the stock price
Walmart is doing what their competitor Amazon can't do, throw holiday parties. Buzz60
It's $1 in adjusted earnings per share were three cents higher than what S&P Global analysts had expected.
Total revenue was $123.2 billion, an increase of $5.0 billion, or 4.2%.
Walmart is abolishing those dreaded return lines by making consumers a 30-second return promise. Buzz60
The retailer has been shaping up as one of the key competitors to online giant Amazon, buying online marketplace Jet, and niche sites like menswear retailer Bonobos to attract a more affluent, fashion-conscious shopper.
Walmart's tripled the number of items available at its e-commerce site, and earlier this week, it announced that it will partner with upscale retailer Lord & Taylor to feature a branded shop on Walmart.com starting next Spring.
In the meantime, Walmart has also been making the most of its fleet of roughly 4,700 U.S. stores, offering discounts to customers who pick up purchases they've made online.
Bagikan Berita Ini
0 Response to "Walmart sales soar online"
Post a Comment