In an ecommerce landscape increasingly dominated by Amazon, Walmart is showing that there is still ample opportunity for growth, although it can come at a cost.
Walmart reported financial results for the June quarter today, with many analysts focusing on how its ecommerce business is doing. The company said the gross merchandise value of its e-commerce operations grew 67 percent in the quarter, with revenue rising 60 percent. While ecommerce revenue growth is down from 63 percent in the previous quarter, it’s up from 12 percent in the year-ago quarter.
After buying Jet.com a year ago and...more
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Walmart and Amazon’s head-to-head battle for retail dominance has been keeping the industry on the edge of its seat for nearly two years. With Walmart’s noisy purchase of Jet.com for $3.3 billion last year, countered by an even louder $13.7 billion Whole Foods acquisition by Amazon in June, the power players have held the world captive in anticipation of their next move.
“They’re both saying, ‘There should be two big retailers in the marketplace — one being Amazon and one being Walmart,’” explained Farla Efros, president of Chicago- based HRC Retail Advisory. “Walmart is buying up all these on...more