Pursuits
Wal-Mart's Online Sales Soar as Retail Giant Pursues Amazon
- E-commerce business posts its fastest growth in five years
- Earnings, same-store sales also outpace analysts’ estimates
Wal-Mart Gains Momentum in E-Commerce
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Wal-Mart Stores Inc. gained momentum in its fight against Amazon.com Inc., with its online sales growing at their fastest clip in at least five years.
The e-commerce business saw gross merchandise volume -- a measure of all the goods it sells online -- soar 69 percent in the first quarter, Wal-Mart said on Thursday. Total revenue climbed 1.4 percent to $117.5 billion.