Retail giant Walmart reported stronger-than-expected first-quarter earnings on Tuesday, driven by a surge in e-commerce and higher traffic in stores as the coronavirus pandemic sparked massive purchases in household goods.
“Our omnichannel strategy, enabling customers to shop in seamless, flexible ways, is built for serving the needs of customers during this crisis and in the future,” CEO Doug McMillon said in the management commentary. According to data from analytics firm Placer.ai, both Walmart and Target “have been two of the more significant retailers to track during the pandemic because of their essential retail status.”
However, Walmart said it will discontinue Jet.com, which it acquired in September 2016 for $3 billion, because of strength of the Walmart.com brand. Walmart added that the Jet.com acquisition was “critical to accelerating its omni strategy.”
They will come out extremely successful because of corona virous! Others close to the government will also come out winners! Middle class & the poor will be poorer. They will need a smart government that respects them & other classes using compassion to reach a fair equasion
THank You Walmart I Love You
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