Fortune writes that while Walmart's quarterly sales numbers, released and reported on by MNB yesterday, may be reason to be optimistic about the company's fortunes, there is a "potential Achilles’ heel: e-commerce is not contributing enough to its turnaround."
The story says that Walmart's "global e-commerce, the bulk of which is in the U.S., grew by only 10%, a much smaller rate than in any preceding quarter this fiscal year. And, perhaps of greatest concern, that clip is well below Amazon.com’s growth last quarter. (Amazon has project growth of as much as 25% in the current holiday season quarter.)>
And CEO Doug McMillon conceded, “E-commerce sales and traffic were softer than we would like."
The story says that Walmart's "global e-commerce, the bulk of which is in the U.S., grew by only 10%, a much smaller rate than in any preceding quarter this fiscal year. And, perhaps of greatest concern, that clip is well below Amazon.com’s growth last quarter. (Amazon has project growth of as much as 25% in the current holiday season quarter.)>
And CEO Doug McMillon conceded, “E-commerce sales and traffic were softer than we would like."
- KC's View:
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Read the Walmart e-commerce story in the context of the two Amazon-related stories that preceded it, and one gets a sense of how hard it is going to be for Walmart to catch up, keep up, and go ahead of Amazon.
