Walmart Expects E-Commerce Profits Within Two Years
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Walmart Inc. said it expects to generate profits in its U.S. e-commerce business within the next two years.
The Bentonville, Ark.-based retailer is working toward e-commerce profitability in a year or two, including its advertising and consumer data business, Chief Financial Officer John David Rainey said during a question-and-answer session with analysts on June 7 as part of its annual shareholder week.
Sam’s Club, the company’s warehouse-club chain, is already profitable in e-commerce, he said.
Walmart has said it’s working to drive costs out of its e-commerce business while increasing orders. The e-commerce business has been among the drivers of growth for the company and rose about 22% in sales during the latest quarter.
Walmart ranks No. 2 on the Transport Topics Top 100 list of the largest private carriers in North America.
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