Walmart reported a slow fourth-quarter as a shorter holiday season and weak demand hurt sales in stores. The world's largest retailer posted quarterly net income of $4.14 billion
Heavy investments to spruce up stores, enhance websites, improve delivery options and promote deals underscore the battle retailers are up against as they try to keep shoppers from going to Amazon.
“There were few weeks before Christmas where general merchandise sales and few categories in the stores were softer than anticipated and it was pretty much limited to apparel, toys, media and gaming,” Chief Financial Officer Brett Biggs told Reuters. Walmart has been expanding store capabilities to push speedy delivery and pickup services for groceries as it competes with similar options from Amazon and Target.
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