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Wal-Mart's online sales, customer visits rise; shares hit 52-week high

It grew its e-commerce sales by 63% during latest quarter

Reuters  |  Chicago 

Wal-Mart Stores Inc on Thursday reported higher-than-expected quarterly sales at established US stores, as a huge investment to bring more customers into the discount retailer paid off and a bigger push into e-commerce boosted online purchases, sending its shares to a 52-week high. Wal-Mart and analysts said the company is benefiting from a $2.7 billion investment to increase entry-level wages and enhance the training of its workforce, which has led to better stocked shelves and cleaner stores. It said store visits rose 1.5 per cent, the tenth consecutive quarterly ...

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First Published: Thu, May 18 2017. 20:59 IST