(Reuters) – Wal-Mart Stores Inc on Tuesday unveiled a $20 billion share buyback plan and forecast U.S. online sales to increase by about 40 percent in the fiscal year ending January 2019.
Wal-Mart’s shares were up 1.6 percent at $81.80 in premarket trading after the company also forecast overall net sales to increase by at least 3 percent in the same period.
Company - Battle - Market - Share - Ecommerce
The company, locked in a battle for market share with ecommerce giant Amazon.com Inc , has been doubling down on its online business and is leveraging its 4,700 plus stores to create a more hassle-free experience for its online shoppers.
Wal-Mart reported a 60 percent jump in online sales in the United States in its latest quarter ended July.
Wal-Mart - Heat - Online
“It is clear that Wal-Mart intends to continue to turn up the heat online,...