Walmart has reported its best first quarter comparable-store sales in nine years after the company posted an increase of 3.4 percent. The company beat analyst estimates announcing a revenue of $189.64 billion.
The 3.4 percent increase in comps makes this the third consecutive quarter above three percent. The company claims the positive results are due to Walmart’s investment in home, fashion, grocery and online shopping. Walmart claims that its e-commerce sales increased by 37 percent during the quarter.
The positive results are credited to Walmart’s effort to keep up with major retailer, Amazon.