A NEW HIGH FOR THIS RETAIL GIANT
This retail behemoth isn't going away anytime soon...
Regular readers know we call Wal-Mart (WMT) the World Dominator of retail. But for years, its online sales struggled to keep pace with Amazon (AMZN). Now, that picture is changing...
Last year, Wal-Mart purchased Jet.com – a fast-growing, innovative e-commerce business. Then, the company put former Jet.com CEO Marc Lore in charge of its entire e-commerce business. And he's making some interesting changes...
Wal-Mart now offers customers big discounts for buying products online and picking them up in-store. It is also paying employees to drop off packages along their normal route home from work. It's a win-win setup...
The company saves money on the most expensive aspect of shipping, and its employees can earn more cash. That's some creative cost cutting.
Now, online sales have jumped 63% from a year ago, according to Wal-Mart's latest earnings report. And as you can see, the company's shares have surged in recent months.
They're up around 16% since January... and recently hit a new 52-week high. People have ignored Wal-Mart for years, but this World Dominator isn't going anywhere...
Source: Daily Wealth