Instead, Walmart said it would work to increase sales by ramping up growth in its online division and squeezing more business out of its roughly 4,600 U.S. stores. For example, last quarter, Walmart’s global e-commerce sales were up 11.8 percent over the previous year. In the last full fiscal year, the company’s online sales were up 8 percent. The big-box chain recently moved to boost its e-commerce firepower by acquiring upstart shopping site Jet.com and by installing that company’s founder, Marc Lore, as the head of Walmart’s online shopping strategy. Walmart expects to put $11 billion toward capital investments in the coming year.

Source: Washington Post October 06, 2016 18:00 UTC