Walmart Beats Expectations on Q1 Earnings as E-Commerce Soars
Walmart’s first-quarter earnings beat expectations, thanks in large part to the massive growth in e-commerce sales. The retailer has been investing heavily in its e-commerce, and it seems to be paying off. The company saw a 37 percent growth in e-commerce in the first quarter, fueled by its online grocery business and growth in the home and fashion categories.
U.S. same-store sales growth was 3.4% in the quarter, versus the expected 3.3% increase — making it the fourth consecutive quarter above 3%, and the best Q1 in nine years.
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