TGT) “have been two of the more significant retailers to track during the pandemic because of their essential retail status.”’ data-reactid=”29″>According to data from analytics firm Placer.ai, both Walmart and Target (TGT) “have been two of the more significant retailers to track during the pandemic because of their essential retail status.”
Traffic to Walmart’s Supercenters were up 8.3% year over year in February, and early March saw year-over-year jumps of 6.7% and 15% respectively — traffic only overshadowed by Easter and July 4th, Placer.ai noted.
Yet the biggest story has been Walmart’s online sales, which skyrocketed by 74% in the quarter, driven by its popular online grocery pickup and delivery service in the midst of the pandemic. At the end of the quarter, Walmart featured online grocery pickup at 3,300 stores and same-day delivery at 1,850 stores. The retailer also launched Express Delivery during the quarter.
However, Walmart said it will discontinue Jet.com, which it acquired in September 2016 for $3 billion, because of strength of the Walmart.com brand. Walmart added that the Jet.com acquisition was “critical to accelerating its omni strategy.”
Elsewhere, Walmart withdrew its guidance for fiscal 2021, citing “unprecedented variability” of the macro-environment due to COVID-19.
“The decision to withdraw guidance reflects significant uncertainty around several key external variables and their potential impact on our business and the global economy, including: the duration and intensity of the COVID-19 health crisis globally, the length and impact of stay-at-home orders, the scale and duration of economic stimulus, employment trends and consumer confidence,” CFO Brett Biggs said in a statement.
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