The company expects to reach US online revenue of $11.5 billion this year. Nearly one-third of items ordered online are returned, compared with just 8 percent of things bought in physical stores, according to Optoro Inc., which works for Wal-Mart's e-commerce unit Jet.com to process returns. The retailer also says that it will be adding 1,000 additional online grocery locations in the U.S.in fiscal 2019.
News stories about Wal-Mart Stores (NYSE:WMT) have trended somewhat positive on Tuesday, AlphaOne reports. WMT said the sales gains will be driven by solid comparable sales and e-commerce growth. Other products, including those that can not be reuse by the store once they have been opened or damaged, are expected to be added over time.
Looking ahead, store purchases will be integrated into the program in early 2018. The company has been making major investments in its e-commerce business as it faces off against an increasingly dominant Amazon.
Amazon's $13.7 billion purchase of Whole Foods earlier this year was, in part, to give the company some storefront real estate.
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"Wal-Mart customers think of Walmart.com as "Wal-Mart" regardless of where the products originate and will expect Wal-Mart to accept returns for any items available on its digital platform", Spieckerman said. That represents a slowdown from about 20 this year.
"We have a plan that plays to our unique strengths", said Walmart CEO Doug McMillon, citing the company's massive brick-and-mortar footprint. And the company reiterated its profit target for the current year, saying earnings would be $4.18 to $4.28 a share. "We're executing our strategy and moving with speed to win with the customer, who is more connected than ever".
Walmart posted a jump of more than 60% in its sales online across the U.S.in its most recently reported quarter that ended in July.
Walmart shares added 1.43% to US$81.68 in pre-market deals. In groceries, Wal-Mart already is the leading seller in the USA, and derives over half its US revenue from this category of goods. Customers will start the returns process on their phones, using Wal-Mart's app before heading to the store.