Walmart Outshines Apple, Becomes No. 3 Online Retailer in the US
Walmart has reportedly became the No. 3 online retailer in the U.S. overtaking the technology giant Apple. Walmart has been recently making various efforts and it seems that the company got the reward.
Amazon still leads by a wide margin, accounting for 48 percent of e-commerce sales in 2018. On the other hand, Walmart (including also Sam’s Club and Jet.com) is supposed to capture 4 percent of all online retail spending in the U.S. by year-end, totaling $20.91 billion.
This move has come up following Walmart’s strong earnings which saw the retailer reporting a 43 percent increase in online sales. Also, the company’s year-end forecast for both earnings and sales increased to a great extent.
Apart from this, Walmart beat Wall St.’s expectations in its fiscal third quarter, with $1.0...