Walmart is also invested in a grocery delivery venture in China that has still been making home deliveries during the outbreak. Still, the company’s chief financial officer, Brett Biggs, cautioned that the coronavirus situation was still too “fluid” to make any definitive pronouncements about how it could play out for Walmart. Walmart was one of the first US companies to source its merchandise in China. Walmart said Tuesday that its assumptions of the value of its equity stake in JD had not changed. “Sales leading up to Christmas in our US stores were a little softer than expected,” Doug McMillon, chief executive of Walmart, said in a statement.

Source: bd News24 February 18, 2020 15:45 UTC