Walmart announced its third quarter results, which exceeded economic estimates. They reported online sales growth of 50%, and total revenue rising 4.2% to $123.2 billion, versus estimates of $121 billion. Walmart US rose to $77.7 billion, and same store growth over last year increased 2.7%, which was Walmart’s 13th consecutive quarterly increase. Based on Q3’s success, the retailer increased its annual earnings expectations. Walmart continues to unveil strategies to compete against Amazon. Last week it announced that it was partnering with Lord & Taylor to bring an online fashion store to Walmart.com. They are also building strong relationships with brands such as KitchenAid and Bose. As they head into holiday selling, they are focused on their automation of inventory checking and offering same and next-day delivery.
Sources: Chain Store Age, Business Insider
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