The world's largest retailer was a go-to destination as consumers stocked up during the pandemic.
Retail giant Walmart reported stronger-than-expected first-quarter earnings on Tuesday, driven by a surge in e-commerce and higher traffic in stores as the coronavirus pandemic sparked massive purchases in household goods.
“Our omnichannel strategy, enabling customers to shop in seamless, flexible ways, is built for serving the needs of customers during this crisis and in the future,” CEO Doug McMillon said in the management commentary. According to data from analytics firm Placer.ai, both Walmart and Target “have been two of the more significant retailers to track during the pandemic because of their essential retail status.”
However, Walmart said it will discontinue Jet.com, which it acquired in September 2016 for $3 billion, because of strength of the Walmart.com brand. Walmart added that the Jet.com acquisition was “critical to accelerating its omni strategy.”
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Walmart surges after earnings report shows ecommerce nearly doubled - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Weiterlesen »
Walmart sales surge at stores and online on coronavirus-led demandWalmart Inc beat Wall Street expectations with its quarterly revenue and earnings on Tuesday and reported record U.S. online sales as stockpiling drove consumers to its stores and website during the coronavirus pandemic, sending its shares up 3%.
Weiterlesen »
Coronavirus live updates: U.S. cases surpass 1.5 million; retail earnings show strong salesThe coronavirus has infected more than 4.82 million people globally, and killed at least 318,851 people as of Tuesday.
Weiterlesen »
Walmart Sales Surge as Coronavirus Drives Americans to StockpileWalmart is reaping the rewards of being one of few retailers positioned to successfully navigate a global pandemic, reporting a surge in quarterly sales as consumers flocked to its giant stores to stock up on food and household goods.
Weiterlesen »
Home Depot sales jump 7% but higher coronavirus-related costs drag down earningsHome Depot has had a few advantages going into the pandemic compared to other retailers.
Weiterlesen »
Walmart earnings soar as e-commerce sales jump, shoppers flock to storesThe big-box retailer has sold groceries, hair color and more to customers during the coronavirus pandemic, but it's also had additional expenses as its workforce grows and more sales shift online.
Weiterlesen »