Here's Why Walmart Inc (NYSE:WMT) Stock Is Going Crazy Today

McMillon has sworn to fix the problem, but while Walmart is still learning how to master online, Amazon is running away with it. Amazon had a record-setting holiday season, and analysts estimate that it took almost half of all online sales. E-commerce sales growth in its USA business slowed to 23 per cent during the fourth quarter, a sharp decline from 50 per cent in the third quarter.

The stock now shows its YTD (Year to Date) performance of -4.7 percent, whereas its Weekly performance stands at -5.46%. Walmart's decline was a big factor in the Dow Jones industrial average's 1 percent fall.

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The company's mixed results raise concerns its push to narrow the gap between itself and Amazon.com Inc. may be losing steam.

Walmart's e-commerce growth has actually slowed - in the previous quarter, online sales had increased by 50%, the company reported on Tuesday. But it acknowledged mistakes. Walmart prepared for the holidays by stocking up on items it predicted would be big sellers, such as electronics, toys, and gifts - but that "harmed our basic in-stock on more everyday items, and our basic in-stock for e-commerce suffered as a result", said McMillon. "We're making real progress putting our unique assets to work to serve customers in all the ways they want to shop" said Doug McMillon President and CEO, Walmart. As we said in October, U.S. customers that shop us in-store and online spend almost twice as much as customers that only shop with us in stores.

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The slow growth over the holiday season comes more than a year after Walmart acquired Jet.com for $3 billion as a part of its expansion into e-commerce and a refined strategy to appeal to higher-income, urban consumers.

Furthermore, Walmart plans to revamp its website this year, with a focus on fashion and home goods, in line with its recently launched apparel brands. It has teamed up with Lord & Taylor to create dedicated space on its site. But a smaller portion of the slowdown was due to "operational challenges", he said.

Walmart has worked quickly to construct its online business over recent years to head off the dominance online of Amazon. After paying $14 billion for Whole Foods Market last summer, Amazon announced two-hour deliveries from the grocery chain for its members. Inc. now owns 1,526 shares of the retailer's stock valued at $115,000 after acquiring an additional 1,252 shares during the period. The business had revenue of $135.15 billion for the quarter, compared to the consensus estimate of $133.63 billion. Both of its revenue and same-store figures exceeded most expectations, the revenue grew was reported to be at $136.3 billion, while the same-store sales managed to hit a whopping 2.6% increase.

Walmart has been beefing up efforts to compete with Amazon - which entered the grocery game with its $13.7 billion buyout of Whole Foods a year ago - through steep discounts on its Jet.com platform, curbside pickup, and a partnership with Google to compete with Amazon's Alexa-powered devices. It operates through three segments: Walmart U.S., Walmart International, and Sam's Club. It has no change, as 62 investors sold WMT shares while 508 reduced holdings. only 113 funds opened positions while 468 raised stakes. Walmart's Chief Financial Officer Brett Biggs said that it expects a cash benefit of $2 billion for the year.


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