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E-commerce growth sharpens Walmart’s digital focus
One of the bright spots in Walmart’s otherwise dismal fourth quarter was an online business that grew 30% to $10 billion and is forecast to exceed $13 billion this year.
Every executive participating in the company’s prerecorded earnings call Thursday morning spoke in some form or fashion about key digital initiatives and Walmart’s unique capabilities in the area of e-commerce. For example, Walmart president and CEO Doug McMillon sees an environment in which the company has the potential to create transformative growth in global e-commerce and mobile commerce.
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Walmart thinking big with small formats amid soft sales
Walmart knew fourth quarter results announced Thursday morning were going to be bad and its outlook weak so it gave investors something more substantial to digest by announcing plans to double the number of small format stores it will open this year and an increased omnichannel focus.