Tuesday, February 21, 2017

Walmart Online Growing by Double Digits

Looks like the Jet.com acquisition is paying off for Walmart.

Here is a snippet from the piece:

Wal-Mart posted its third straight quarter of double-digit online growth, which helped its holiday results top estimates. The world’s largest retailer is benefiting from last year’s acquisition of Jet.com, a $3.3 billion deal that reinvigorated a flagging e-commerce business and brought a new executive team to the division.

Wal-Mart is finally “playing offense,” said Peter Benedict, an analyst at Baird Equity Research.

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