Walmart 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.
This chart shows Walmart's year-over-year growth rate in e-commerce sales.
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