NEW YORK -- Wal-Mart Stores, the 800-pound gorilla of retail, is running hard to catch up in an increasingly crucial segment where it is neither the biggest nor the best: e-commerce. The company, founded in 1962 by Sam Walton, has been gobbling up smaller and niche players in e-commerce in an effort to reach online shopping market leader Amazon. Whether those efforts are paying off will be a focal point when Wal-Mart Stores reports quarterly earnings on Thursday. A bit more than half of all funds spent online in the United States now goes to Amazon, according to the bank Macquarie. Lore is now chief executive of Walmart eCommerce US, where he oversees 15,000 employees split between Silicon Valley, Boston, Omaha and Bentonville, Arkansas, where Wal-Mart is based.

Source: The China Post May 14, 2017 16:07 UTC