Earnings

Walmart says its second-quarter e-commerce sales surged 104% in China

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A man walks outside of a Walmart in China.

Tomohiro Ohsumi | Bloomberg | Getty Images

Walmart’s online shopping strategy is paying off in China, arguably one of the most developed e-commerce markets in the world.

The giant discount retailer reported Tuesday that net e-commerce sales in China grew 104% from a year ago in the three months ended July 31. 

That’s a faster pace than the 97% growth posted for net e-commerce sales in the U.S. The company’s fiscal second-quarter results handily beat analyst estimates on both revenue and earnings per share.

The U.S. is still by far Walmart’s largest market, with net sales of $93.3 billion in the second quarter versus $27.2 billion for the rest of…



Source cnbc.com

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