Walmart Hits 52-Week High: How The Retailer’s E-Commerce Strategy Is Paying Off

Walmart (WMT) may be on an upswing. The company has seen its stock shares increase by as much as 19 percent over the last six months, reaching a 52-week high of $112.93, according to Zacks Equity Research.

The increase in its stock price may be due to the retailer’s e-commerce efforts as it has created partnerships with Microsoft MSFT and held buyouts of ShoeBuy, Moosejaw, Bonobos, ModCloth, and Jet.com. This is in addition to a venture with Lord and Taylor as it works to enhance its online offering.

The company has plans in the works to upgrade its website, improve its check-out process and Walmart2World money transfer service as well as its Walmart Pay mobile payment platform and Mobile Express Returns program, the firm said. Walmart has also committed resources to its grocery business, investing heavily in China in the segment among other regions.

The company also has agreements with Point Pickup, Skipcart, AxleHire, Roadie, and Postmates, and has also partnered with Uber and Lyft for quick grocery delivery services.

Walmart has seen its e-commerce sales grow by 37 percent in the first quarter of fiscal 2020, allowing the company to remain optimistic about its goal of 35 percent U.S. e-commerce sales growth in the year, Zacks Equity Research reported.

The boost in e-commerce sales may be due to the company’s offering of in-store pickup at 2,450 of its stores and same-day delivery at 1,000 of its locations. By the end of fiscal 2020, Walmart expects to have about 3,100 grocery pickup locations and about 1,600 grocery delivery locations in place, the company said.

Shares of Walmart stock were up 0.23 percent as of 2:22 p.m. ET on Thursday.