Walmart quarterly e-commerce sales in China leap 104%
- Date: 19-Aug-2020
- Source: Mubasher
- Sector:Financial Markets
- Country:GCC
Walmart quarterly e-commerce sales in China leap 104%
Mubasher: Walmart said its net e-commerce sales in China signalled a 104% annual growth during the three months ended 31 July, a faster pace than the 97% growth posted for net e-commerce sales in the US, CNBC reported on Wednesday.
The giant discount retailer's fiscal second-quarter (Q2) results surpassed analysts' estimates on both revenue and earnings per share (EPS).
The US is still, to a great extent, Walmart's largest market, with net sales of $93.3 billion in the second quarter, compared with $27.2 billion for the rest of the world.
Moreover, the company's higher-end membership Sam's Club stores recorded double-digit comparable sales growth in China.
Walmart has been investing heavily in China, from opening new Sam's Club stores to teaming