Walmart Earnings Exceed Expectations

Walmart showed that the retail industry is not dead.
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Walmart (WMT) - Get Report  showed that the retail industry is not dead and gone on Thursday by posting earnings that exceeded Wall Street's expectations.

The company managed to increase its online sales by over 60% during its first quart, compared to a 29% growth in the previous quarter. A combination of factors are thought to have benefited Walmart, including its acquisition of Jet.com, free shipping fo purchases above $35 and lower prices than its competitors.

"We delivered a solid first quarter and we're encouraged by the start to the year," said Walmart CEO Doug McMillon.

This article was written by a staff member of TheStreet.