reported their third-quarter earnings yesterday, beating out profit projections
. The catch-all store, which has saturated the retail brick-and-mortar market in the U.S., has been trying to up its e-commerce
game. Over the past two fiscal years, the company's e-commerce growth has consistently seen double-digit growth, and with this quarter’s success, they have managed to beat out Apple as the third biggest e-commerce retailer in America.
Walmart has been acquiring web-based companies to elevate its online presences. After acquiring
Jet.com, Shoebuy.com, and Moosejaw.com, Walmart saw a 63 percent spike in e-commerce sales. They continued to acquire ModCloth.com and Bonobos, both clothing companies with strong e-commerce sales. Their stellar e-commerce growth continues this quarter with 43 percent increase in online sales. The two most recent companies Walmart has brought on is Eloquii and Bare Necessities.