Walmart expects profits in its U.S. e-commerce business within two years
BNN Bloomberg
Walmart Inc. said it expects to generate profits in its U.S. e-commerce business within the next two years.
The Bentonville, Arkansas-based retailer is working toward e-commerce profitability in a year or two, including its advertising and consumer data business, Chief Financial Officer John David Rainey said during a question-and-answer session with analysts on Friday as part of its annual shareholder week.
Sam’s Club, the company’s warehouse-club chain, is already profitable in e-commerce, he said.
Walmart has said it’s working to drive costs out of its e-commerce business while increasing orders. The e-commerce business has been among the drivers of growth for the company and rose about 22 per cent in sales during the latest quarter.
Gold seen as overbought as Iran tensions ease, with falling oil prices lifting stocks and shifting investor sentiment toward risk assets.
Stock markets in Canada and the U.S. rallied after President Donald Trump said the United States has talked with Iran about a possible end to the war.
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A pipeline leak in Sarnia, Ont., has been located more than a week after a sheen reportedly turned up on the St. Clair River.
U.S. President Donald Trump on Monday said the U.S. was talking with a “respected” Iranian leader and claimed the Islamic Republic was eager for a deal to end the war. He also extended a deadline for Iran to reopen the crucial Strait of Hormuz or face attacks on its power plants, saying it has an additional five days.
Berkshire Hathaway, the conglomerate built by Warren Buffett, is buying a 2.49 per cent stake in Japanese insurer Tokio Marine Holdings for about US$1.8 billion as part of a new strategic partnership, deepening its financial commitment to Japan.
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Asset management giant BlackRock’s CEO Larry Fink urged clients to stay invested despite ongoing market volatility, and highlighted that artificial intelligence is reshaping investment strategies and the broader economy.
Jurors wade through daunting evidence in high-stakes Meta trial about social media risks to children
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Global oil prices will continue to rise as the war in the Middle East continues and the Strait of Hormuz remains inaccessible, according to an energy expert.
Canada’s federally backed farm lender is offering financial aid to farmers, agricultural businesses and food companies hit by the spike in fertilizer and energy prices, it said on Friday.
Jay Allen is a fan of U.S. President Donald Trump, and voted for him on the belief that the Republican would cut taxes and trim regulations, helping his manufacturing business in northeast Arkansas.