McMillon also said the retailer plans to open fewer than 15 SuperCenters in the USA next year. The company has also been on a shopping spree, snapping up smaller e-commerce players like ModCloth, Moosejaw, and Bonobos.
Wal-Mart's investments in e-commerce have already helped boost sales.
In the USA, the company said it would open less than 15 Supercenters and fewer than 10 Neighborhood Markets in 2019. The main focus of the company is on a bridge between online and offline businesses of Walmart that makes a lot of sense.
Wal-Mart Stores Inc. (WMT) has the market capitalization of $235.04 Billion.
The retail chain said the app will let its clients to enter all the needed information about the return before coming to the store, where a Walmart staff will facilitate the transaction in less than a minute. There are plans to offer refunds for certain items completely online. Wal-Mart Stores, the parent company of Walmart and Sam's Club, expects earnings to increase about 5 percent year over year for fiscal 2019. Amazon is also handling some returns at Whole Foods stores it purchased. That represents a slowdown from about 20 this year.
During its annual meeting for investors, Wal-Mart Stores Inc provided some updates on its business.
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Walmart forecasted that its profit for its 2019 fiscal year would increase by approximately 4% over what was expected for its adjusted earnings of between $4.30 and $4.40 a share for its year ending January of 2018.
Investors and Traders continue to monitor technical levels of shares of Wal-Mart Stores, Inc.
The company said in a statement that refunds will be given to customers as soon as the next day. "We're executing our strategy and moving with speed to win with the customer, who is more connected than ever".
A key to Wal-Mart's e-commerce push is leveraging its extensive network of physical store locations.
And by next year, the new service will expand to include third-party sellers on the company's online marketplace, Walmart.com.
Volume is the basic fuel of the market since stocks move up or down in price only when shares are trading hands. In groceries, Wal-Mart already is the leading seller in the USA, and derives over half its US revenue from this category of goods.