Walmart sees massive increase in ecommerce sales as it crushes estimates

• Walmart Incs has recorded its biggest ever growth in online sales this week as shoppers move to ordering groceries online due to the effects of Covid-19

• Ecommerce sales rose a total of 97% for the quarter with gross margins increasing 24.9%, far higher than expected

• Total revenue rose just over 5% to US$137.74 billion, despite having Covid-19 related running costs increasing, due to new health and safety measures and increased employee wages

Source : https://www.theglobeandmail.com/business/international-business/us-business/article-walmart-beats-estimates-as-online-sales-nearly-double/