Deals
Wal-Mart's Bid to Challenge Amazon Helped by Online Surge
- Internet sales grow in double digits for third quarter
- Company benefiting from last year’s purchase of Jet.com
Wal-Mart Tops Estimates on Double-Digit Online Growth
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After years of Amazon.com Inc. drubbing Wal-Mart Stores Inc. in e-commerce, the brick-and-mortar chain is beginning to push back.
Wal-Mart posted its third straight quarter of double-digit online growth, which helped its holiday results top estimates. The world’s largest retailer is benefiting from last year’s acquisition of Jet.com, a $3.3 billion deal that reinvigorated a flagging e-commerce business and brought a new executive team to the division.