Walmart's online arm in China-called Yihaodian, meaning number one store,,has recently increased the number of products sold on its site, built up its supply chain and streamlined its mobile site in a push to boost sales. Walmart owns a 54% stake in Yihaodian, the Journal said.
Their goal is to achieve the growth that has so far eluded the world's biggest retailer in China's brick-and-mortar retail market.
Shares of Walmart Stores are slightly higfher at $76 in pre-market trade
TheStreet Ratings team rates WAL-MART STORES INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate WAL-MART STORES INC (WMT) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in net income, reasonable valuation levels, increase in stock price during the past year and notable return on equity. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."