Wal-Mart sales boosted by online growth

WAL-MART Stores reported higher than expected quarterly sales at established US stores yesterday, as investments to bring more customers into the discount retailer paid off.

A bigger push into e-commerce also boosted online purchases, sending its shares flirting near a 52-week high.

Wal-Mart and analysts said the company was benefiting from a $2.7-billion (R36.2-billion) investment to increase entry-level wages and enhance the training of its workforce, which had led to better stocked shelves and cleaner stores.

It said store visits rose by 1.5%, the 10th consecutive quarterly increase.

Wal-Mart’s efforts to close the gap with rival Amazon.com has started gaining momentum even though other retailers such as department store chains struggle.

Wal-Mart, which acquired Jet.com last year, has snatched up online retail startups Shoebuy, Moosejaw and Modcloth this year alone and is in talks with small online clothing retailer Bonobos.