Target, Wal-Mart See Online Sales Growth Ebb in Ominous Sign
Retailers' Results Depend on the Products They Sell
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Target Corp. and Wal-Mart Stores Inc. both saw a big slowdown in online sales growth last quarter, fueling concern that the brick-and-mortar chains aren’t transitioning fast enough to e-commerce.
Target’s Internet sales grew 20 percent third quarter, missing the 30 percent gain it expected, the retailer said on Wednesday. The previous day, Wal-Mart posted quarterly e-commerce growth of 10 percent, compared with 16 percent in the second quarter and 21 percent a year earlier.