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CNBC has a follow up on yesterday’s Walmart report on Q4 revenue and earnings, noting that it shows the “largest bricks-and-mortar retailer in the world is making progress in building out its website, despite Amazon's looming presence and massive share of U.S. internet sales.

“Walmart's e-commerce sales were up 43 percent during the fourth quarter, and it achieved online sales growth of 40 percent for all of 2018, matching its own expectations. For 2019, it's calling for internet sales to be up 35 percent, with growth each quarter of this year falling between 30 percent and a low 40 percentage, according to Chief Financial Officer Brett Biggs.”

The story quotes Moody's lead retail analyst, Charlie O’Shea as saying that "Walmart has nailed the [question of]: 'How do we transition online? … Now, they aren't building stores, but are spending about the same on capex ... that's going into technology spend and going into e-commerce.”

CEO Doug McMillon says that “the thing that's taking longer than what I would have guessed is to build that merchandise assortment [on].” The company is trying to get to a "repeatable, healthy mix of business online," he added. "We're pedaling fast, trying to make that happen, and disappointed it's taken so long.”

And MNB fave Burt Flickinger, managing director of New YoStrategic Resource Group, tells CNBC, “In the next two years, Walmart will become one of Amazon’s worst nightmares.”
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