Walmart Inc. announced that it anticipates generating profits from its U.S. e-commerce business within the next two years.
The retailer, based in Bentonville, Arkansas, is striving to achieve e-commerce profitability within one to two years, which includes its advertising and consumer data business, according to Chief Financial Officer John David Rainey.
He made this statement during a question-and-answer session with analysts on Friday, part of the company’s annual shareholder week.
Rainey also noted that Sam’s Club, Walmart’s warehouse-club chain, is already profitable in its e-commerce operations.
Walmart has stated its commitment to reducing costs in its e-commerce business while boosting order volumes.
The e-commerce sector has been a significant growth driver for the company, with sales increasing by about 22 percent in the most recent quarter.
