Wal-Mart Expects Online Sales to Keep Booming
Online sales at Wal-Mart Stores' (NYSE: WMT) websites have been booming this year. After sales increased 63% in the first quarter, they climbed 60% in the second. Wal-Mart has been buying up smaller online retailers over the past year to boost its online presence, but management says the majority of its online sales growth stems from Walmart.com.
The company expects its strong online sales growth to continue next year. In a press release this week announcing its new $20 billion share buyback authorization, management gave a preview of its 2019 outlook. In the details, it notes an expected 40% increase in online sales. That's quite impressive in the face of strong growth this year and continued competitive pressure from Amazon (NASDAQ: AMZN). What makes Wal-Mart so confident it can meet that mark?
Image source: Wal-Mart.
Source: Fool.com
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