WAL-MART’S ONLINE SALES UP AS GIANT PURSUES AMAZON

Wal- Mart Stores Inc. gained momentum in its fight against Amazon.com Inc., with its online sales growing at their fastest clip in at least five years. The e- commerce business saw gross merchandise volume — a measure of all the goods it sells online — soar 69 per cent in the first quarter, Wal-Mart said on Thursday. Total revenue climbed 1.4 per cent to US$117.5 billion. The results signal that Wal-Mart is getting a payoff from an ambitious online expansion, which included last year’s $3.3 billion acquisition of Jet.com. The Arkansas-based company now boasts 50 million items on its website, up from 35 million the previous quarter, and its offer of free two-day shipping for orders of $35 or more has boosted site traffic and spending, executives said.