Walmart scored another round of strong earnings Tuesday as it sharpens its focus on e-commerce growth and retreats from some overseas markets as the coronavirus roils the retail economy. Pickup is available at three-quarters of Walmart's 4,753 US stores and same-day delivery operates from about 60 percent of the stores. Walmart has been embroiled in a battle with Amazon for market share and unveiled in September a "Walmart " subscription plan that provides free delivery and rivals Amazon's "Prime" service. Walmart said e-commerce sales grew 79 percent in the quarter. Walmart divested Argentina entirely, but maintained stakes in the other two countries, examples of "flexible" structures that benefit Walmart as it focuses on its core overseas markets, said Walmart International Chief Executive Judith McKenna.

Source: Mint November 17, 2020 15:56 UTC