Walmart earnings fall, but U.S. sales surge
NEW YORK — Walmart’s fourthquarter earnings fell nearly 18 per cent as the world’s largest retailer was hurt by its investments in ecommerce and stores. But Walmart saw its U.S. business accelerate during the period that covers the critical holiday shopping season. It also enjoyed a surging global e-commerce business. Walmart, like other traditional retailers, has been trying to improve its online operations to be a stronger challenger to Amazon.com. The holidays were challenging for many retailers, underscoring the changes stores need to make. But Walmart’s results show that it’s been able to make inroads.