Posted by: youngragingbull | June 7, 2013

Word on the Street: Wal-Mart online sales to hit $10B this year

Wal-Mart Stores Inc. Chief Executive Mike Duke said at the company’s annual shareholder meeting on Friday that it expects to generate $10 billion in online sales by the end of this year, up from its previous goal of $9 billion, to reflect growth and acquisition of China’s ecommerce site Yihaodian.

Wal-Mart shares are up 1.2% as it also unveiled a $15 billion buyback program.

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