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.