Between its $3.3 billion acquisition of web commerce upstart Jet and increased investment in its digital operations, Wal-Mart Stores is getting a warm reception on Wall Street these days.
The brick-and-mortar retail giant’s online efforts have nothing if not room to grow: Wal-Mart increased its e-commerce sales just 0.4% in its most recent quarter, with online sales representing just 3.1% of its total revenue, according to eMarketer data supplied to Retail Dive. By comparison, arch-nemesis Amazon generated $32.7 billion in e-commerce sales during the third quarter, up 29% year over year.
