Wal-Mart on Thursday reported second-quarter earnings and sales that topped Street expectations, as the big-box retailer made further gains in its online business.
Fresh digital initiatives and a growing assortment of products on Walmart.com aided the retailer in boosting online transactions by 60 percent, the company said. Last quarter, e-commerce sales climbed 63 percent, compared with 29 percent growth in the prior quarter.
Although many retailers are struggling to draw shoppers in, Wal-Mart posted same-store sales growth at its U.S. locations for the 12th-consecutive quarter, fueled by traffic growth of 1.3 percent, the company said.
