Wal-Mart's investments to bring more customers into the discount retailer paid off and a bigger push into e-commerce boosted online purchases. — Reuters
CHICAGO: Wal-Mart Stores Inc on May 18 reported higher-than-expected quarterly sales at established US stores, as investments to bring more customers into the discount retailer paid off and a bigger push into e-commerce boosted online purchases, sending its shares flirting near a 52-week high.
Wal-Mart and analysts said the company is benefiting from a US$2.7bil (RM11.68bil) investment to increase entry-level wages and enhance the training of its workforce, which has led to better stocked shelves and cleaner stores. It said store visits rose 1.5%, the tenth consecutive quarterly increase.
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