WASHINGTON: Walmart Inc reported better-than-expected third quarter U.S. comparable sales on Thursday and raised its full-year outlook as a strong economy boosted purchases at its stores and website and the retailer picked up market share in food and other groceries.
Walmart has also managed to minimize the impact from tariffs on imports from China, imposed by President Donald Trump, Biggs said."I think we've muted the impact pretty well up to this point." The U.S. business has"a lot of momentum", Furner told reporters on Thursday. His priority is to maintain that pace until the end of the holiday season, he added.
Walmart’s online expansion has come at a cost to profitability, and losses at the U.S. e-commerce business could rise to about US$1.7 billion this year from US$1.4 billion in 2018, according to estimates from Morgan Stanley.