Walmart Online Sales Rose 41% in the Third Quarter
Walmart reported third-quarter earnings on Thursday, and the news was very good. While revenue came in just under expectations, the overall results were so promising that Walmart raised its annual earnings outlook for the second time this year. Its online sales rose 41%, due in large part to the growth of its online grocery business. Walmart CEO Doug McMillon emphasized the need to continue growing Walmart.com. The earnings beat puts Walmart in a strong position as it heads into the holidays.
Walmart is “prepared for a good holiday season,” CEO Doug McMillon said in the earnings statement.