Walmart Posts Strong Sales Gains Ahead of Holidays
Walmart Inc. WMT -2.98% is gearing up for a strong holiday season with a robust U.S. economy spurring consumer spending and the retail giant finding its footing in a shifting landscape.
Executives at the world’s biggest retailer by revenue said they are heading into the busy shopping period with lean inventories in stores and more products online to compete with Amazon.com Inc. AMZN -5.87% for younger and wealthier shoppers.
On Thursday, Walmart reported sales at U.S. stores open at least a year rose 3.4% in the latest quarter, including a 43% jump in e-commerce sales. Walmart executives said same-store results, which exclude volatile gasoline sales, will show growth of at least 3% for the full fiscal year ending in January.
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