Is Walmart losing its business to Amazon? Fourth quarter results suggest so

Global retail major Walmart on Tuesday reported weak results for the fourth quarter of Financial Year 2019-20 indicating it was losing business to e-commerce giant Amazon. The results also take into consideration its Indian operation through Flipkart. 

The company's total revenue rose 2.1 per cent to $141.67 billion, missing the estimate of $142.49 billion.

According to Reuters, the holiday sales for brick-and-mortar retailers were disappointing as 2019 saw a majority of shoppers switch to online buying, helping Amazon report "record" sales for the period. "Walmart's shockingly bad results for its all-important holiday shopping quarter indicate that some of the company's