BENTONVILLE, Ark. – The pandemic is creating economic winners and losers and Walmart is one of the winners.
The retailer said its e-commerce sales have grown significantly as customers are buying groceries, cleaning items and other essentials online during the pandemic.
The big-box retailer’s e-commerce sales in the U.S. shot up by 74%. Brick-and-mortar store sales grew by 10% in the first quarter.
But as Walmart’s sales grew during the pandemic, so did its costs. The company spent nearly $900 million on expenses related to COVID-19.
About three-fourths of that went to employee bonuses and expanded benefits.