Walmart CEO Doug McMillon admits there's still work to do online.
Grocery, however, has been a strength, thanks to new services being rolled out like in-home grocery delivery and an unlimited grocery delivery membership that Walmart now offers from 1,400 U.S. stores.
"Grocery pickup and delivery, along with new offerings like Unlimited Delivery and InHome Delivery, will help us unlock advantages we have to serve customers in a way that reduces friction and enhances convenience," McMillon said. "We need to translate this repetitive food and consumable volume into a stronger Walmart.com business that's profitable over time, so that's what we're working on.
Target is "better with athleisure, they're better with toys," Jharonne Martis, director of consumer research at Refinitiv, said on CNBC's "Squawk Box." "Walmart wins when it comes to groceries. But in general, when you think about the entire merchandise assortment for the holiday season," Target wins, she said.
Walmart shares were recently up about 1%, having climbed more than 30% this year. During trading Thursday morning, the stock hit a 52-week high of $125.38.
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