Wal-Mart Stores Inc. is still grappling with its grocery business, but it is seeing early success with a small pilot program of online food shopping.
Wal-Mart's net income for the second quarter (which ended July 31) was down compared to last year, while revenue stayed flat. The company said the decrease was due to "currency fluctuations, lower margins in the U.S. and investments in customer experience," including a significant investment in its ecommerce operation. (It is planning to spend $200 million in Polk County alone, on a 2-million-square-foot ecommerce fulfillment center that could create 600 jobs.)
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