The big-box retailer continued to benefit from shoppers stocking up on everything from food to patio furniture.
“Products that help people work, learn, connect and cook at home, like computing, appliances and tablets, were the largest drivers of our sales growth."
The surge in e-commerce reflects shifting shopping habits amid the coronavirus pandemic and helped power a 9.3% gain in Walmart's same-store sales.
“We are proud of the progress we have made over the past few years, and believe we have a long runway for growth ahead of us."
“We are not pleased with the third-quarter results and are focused on aggressively addressing operational issues," the struggling retailer says.
“The mall is getting more toxic," one analyst warns. "Mall traffic will likely continue to wane over the years ahead.”
The ailing retailer's third-quarter results gave investors “some hope” that its turnaround efforts are “gaining traction.”
Comparable store sales at Kate Spade, which Tapestry acquired in 2017, dropped 16% in the first quarter.
The pizza-delivery giant has been repurchasing shares as sales growth has slowed amid competition from third-party apps.
The luxury jeweler lost six selling days in its fourth-largest market during the second quarter because of pro-democracy protests.
Same-store sales improved in the second quarter but profit was hit by heavy markdowns to clear unsold merchandise.
"Walmart is now a major competitive force in e-commerce and is capable of capturing shopper share from Amazon and others.”
