In the US, the company said it would open less than 15 Supercenters and fewer than 10 Neighborhood Markets in 2019. "We're combining the accessibility of our stores with ecommerce to provide new and exciting ways for customers to shop". The company also plans to at least double the number of its USA stores that offer online grocery pickup. The retailer will open fewer than 15 supercentres next fiscal year, down from about 35 additions in the current year.
U.S. retail giant Wal-Mart has continued to improve its customer service and user experience this week, announcing improvements made to the efficiency of its returns service. It's posting faster e-commerce sales growth than Amazon.com Inc. It's also rolled out curbside pickup of online grocery orders in about 1,000 of its US stores, putting it way ahead of rival Target Corp., which only offers the service for non-perishable items in its hometown of Minneapolis.
People can return their already purchased items by logging on the Walmart app.
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The company has been increasing its e-commerce efforts recently. Wall Street analysts, on average, are forecasting the company's EPS to be 0.97, compared to 0.98 reported in the same quarter past year. To increase its dominance, Wal-Mart offers a click-and-pickup grocery service, with its store employees speeding customers along by loading their cars. Despite the pain the retail sector this year-the SPDR S&P Retail ETF (XRT) has dropped 6.7% so far this year and once high-flying Costco Wholesale (COST) has declined 2.2% as investors continue to sell good news-Wal-Mart's shares have outperformed the market with a 22% rise.
Walmart forecasted that its profit for its 2019 fiscal year would increase by approximately 4% over what was expected for its adjusted earnings of between $4.30 and $4.40 a share for its year ending January of 2018.
Additionally, Walmart announced a new $20 billion share repurchase program to replace its existing authorization, and expects to utilize the new authorization over a the next two years. In the most recent financial results released by Wal-Mart Stores, Inc., for the quarter ending on 2017-07-31, the company posted EPS of 1.08.
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Mobile Express Returns marks the third Mobile Express offering announced this year by Walmart as it doubles-down on innovation within its app.
It's true, e-commerce players like Amazon don't have as vast a physical footprint as retailers like Wal-Mart, Target and Costco today.
In pre-market trading, shares of Walmart were up 1.79 percent at $81.97. First, the customer will have to initiate the return process on their phones using the mobile app before they go to the app.
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