As Walmart reconfigures its stores to accommodate families in 2016, its clear that e-commerce is fast becoming a focus. The company opened its Q3 earnings call highlighting its e-commerce business as a path for the future. "From a marketplace perspective we're scaling fast, adding 8 million SKUs over the last three months alone," said CEO Doug Mcmillon, adding that e-commerce contributed 50 basis points to third quarter U.S. comparable sales— its largest contribution yet. Overall, e-commerce grew 20.6% this quarter. These figures don't include sales from Jet.com, recently acquired for $3.3 billion. Those sales won't be factored in for 13 months after the deal closes, though Jet likely helped prop up Walmart.com's SKUs.
The e-commerce ramp-up comes amid larger changes at Walmart. The company is investing in employee wages, improving store appearance, and making stores easier to navigate. Despite the growth online and off, Walmart failed to deliver on revenue this quarter. The report stated sales of $118.18 billion, hitting below analysts expectations of $118.69 billion. Earnings per share were slightly above analyst forecasts at $0.98 per share compared with $0.96 per share. RR