Wal-Mart Stores reported U.S. comparable sales rose 1.2% in its third fiscal quarter, missing Wall Street forecasts, hurt in part by lower food prices. Analysts had been expecting growth of 1.3%, according to Consensus Metrix. And growth in the number of shoppers who came into its U.S. stores also slowed, only increasing 0.7% and illustrating the challenge of mobilizing shoppers when they can simply go online.
Still, digital sales were the brightest spot in Walmart’s results.
E-commerce growth accelerated again, rising 20.6% globally, with the
U.S. outperforming other major markets. Prior to the second quarter,
Walmart’s e-commerce growth had been shrinking for two years.. . . more