@bizboyle: Wal-Mart’s Online Sales Soar as Retail Giant Pursues Amazon

At least someone is fighting back against the data lords and the royalty deadbeat Amazon…

Wal-Mart Stores Inc. gained momentum in its fight against Amazon.com Inc., with its online sales growing at the 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.

The results signal that Wal-Mart is getting a payoff from an ambitious online expansion, which included last year’s $3.3 billion acquisition of Jet.com Inc. The Bentonville, Arkansas-based company now boasts 50 million items on its website, up from 35 million the previous quarter.

“All of a sudden, Wal-Mart is the primary competitor to Amazon, as opposed to a fragmented cluster of people,” said Greg Portell, a partner at consulting firm A.T. Kearney.

Read the post on Bloomberg

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s