Monday, August 21, 2017

Walmart e-commerce grows by 60% in Q2

Walmart announced last week that e-commerce sales in the U.S. grew by 60% in its fiscal second quarter, as compared to the same quarter a year ago.

"We continue to be really happy with the online grocery program," said Investor Relations VP Steve Schmitt. "It really is a differentiated offering that we know our customers love... We also continued to expand the assortment that they can order utilizing online grocery."

Walmart also announced that sales, comps and store traffic in the U.S. all increased in the quarter. U.S. sales for the quarter totaled $78.7 billion, and overall sales were $123 billion.

The company is about one-third of the way into a multiyear plan to invest billions in lower prices.

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