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Online Grocery And Jet.com Help Fuel Walmart’s E-Commerce Jump

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Online grocery helped Walmart U.S. record a big jump in its e-commerce business during the fiscal 2017 fourth quarter. The Bentonville, Arkansas-based retail giant posted its financial results for the quarter Tuesday and reported strong e-commerce growth as sales and gross merchandise volume increased 29.0 and 36.1 percent, respectively—including Jet.com and online grocery. Walmart purchased online retailer Jet.com, often compared to Amazon, in 2016.

In addition, Walmart U.S. comp sales increased 1.8 percent in the fourth quarter driven by a traffic increase of 1.4 percent, according to the company. Neighborhood Market comps increased approximately 5.3 percent. Total revenue for the quarter was $130.9 billion, an increase of 1.0 percent.

“Walmart U.S. delivered strong top-line performance with comp sales of 1.8 percent. While we have more work to do, we’re pleased with the underlying fundamentals in this business. We continue to work closely with (Jet.com co-founder) Marc Lore and his team to deliver the convenient shopping our customers desire—no matter how they choose to shop. Together, we will serve our customers seamlessly across our app, site and stores,” said Greg Foran, president and CEO of Walmart U.S.

Wal-Mart Stores President and CEO Doug McMillon said, “We’re moving with speed to become more of a digital enterprise and better serve customers…I want to thank our talented associates for their work. We have more work to do, but I’m pleased with our progress.”

The fiscal period marks the company’s best in four years, according to analysts.

The company’s full earnings report can be found here.

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