Walmart gave the retail sector a much-needed pre-peak season shot in the arm, especially following Amazon’s recent miss, posting better-than-expected Q3 sales and adjusted earnings, as its low-priced grocery business soared and ecommerce revenue grew 16%. Three billion of the loss was from a settlement of opioid litigation.
Cincinnati-based grocer Kroger will start selling online into China through a new partnership with Alibaba, testing some of its natural foods line first as it makes its first international move in the expanding grocery wars. See what else the company is up to, including its pilot of driverless delivery in Scottsdale, AZ and same-day delivery.
Ending weeks of back and forth, Walmart confirmed it is making a $16 billion investment in Indian ecommerce marketplace Flipkart, giving it a 77% stake, increasing its presence in the rapidly growing market and edging out a bid from rival Amazon.
The bidding war for Indian ecommerce marketplace Flipkart continues to heat up, with Amazon making a formal bid for a 60% stake in the firm. See what this could mean for India’s ecommerce industry should this deal go forward.