Wal-Mart sees 40 pct online sales growth next year, shares rise

[Elderberry]

Reuters by Sruthi Ramakrishnan, Sayantani Ghosh 10/10/2017

Wal-Mart Stores Inc (WMT.N) on Tuesday forecast a 40 percent rise in U.S. online sales next year as it ramps up competition with Amazon.com Inc (AMZN.O), boosting shares of world’s biggest brick-and-mortar retailer to the highest in more than two years.

Wal-Mart also forecast overall net sales would rise by at least 3 percent in the year ending January 2019, and said it would buy back $20 billion of its shares over the next two years.

Wal-Mart shares rose 4.5 percent to close at $84.13, the top driver of gains in the Dow Jones Industrial Average .DJI and S&P 500 index .SPX.

“We are going to lean into places like technology, e-commerce, international stores,” Wal-Mart Chief Financial Officer Brett Biggs said at the Bentonville, Arkansas company’s annual investor meeting which was webcast.

More: https://www.reuters.com/article/us-walmart-outlook/wal-mart-launches-20-billion-buyback-plan-idUSKBN1CF1E7

[jmyrlefuller]

I'm thinking they're probably not going to reach that target.

[InHeavenThereIsNoBeer]

Meanwhile, after acquiring a brick footprint from Whole Paycheck, Amazon continues to innovate.  Soon, at least for Prime members, customers will be able opt for self-delivery at no extra charge.  Let's see Wally Mart compete with that!

[Frank Cannon]

I foresee Ed McMahon rising from the grave to award me with a large Publishers Clearing House check next year.



Looks like it is going to be aces all around in 2018.