Walmart continues to make progress adapting its brick-and-mortar business to a digital future, investing heavily in technology and using its largesse as the world’s largest company to push down prices in a bid to win market share away from rivals Target and Amazon. Its Sam’s Club unit is still slugging it out with Costco in the big box category but earlier investments in groceries from meat and produce to floral and pharmacy appear to be paying off. Walmart operates more than 11,000 physical stores in 28 countries and e-commerce websites in 11 countries. It was founded in 1945 and is headquartered in Bentonville, Ark.
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The online retailer now has more than a dozen stores stocked with books and toys.
The Chinese giant will buy a stake of over 36% in Sun Art.
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It was their 13th quarter of U.S. growth.