Wal-Mart draws more shoppers, raises fiscal-year outlook
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New York
WAL-MART Stores Inc reported higher-than-expected quarterly earnings on Thursday, saying it benefited from cleaner and more efficient US stores, investments in technology that improved online shopping and higher employee wages that fostered better customer service.
The world's largest retailer has been spending heavily to entice consumers back to its stores with better stocked shelves, and improving its e-commerce business by investing in new warehouses that can deliver online shipments faster. Last week, it announced the acquisition of online startup Jet.com for over US$3 billion to better compete with Amazon.com Inc.
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