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Wal-Mart Stores Inc outshined by Amazon.com Inc despite spending billions on e-commerce

Wal-Mart is struggling to breakout as an online retailer.

After spending billions on its web operations to take on rival Amazon.com Inc., the last thing Wal-Mart Stores Inc. wanted to tell investors was that online sales momentum was slowing.

Yet the world’s biggest retailer said Thursday that e-commerce sales rose only 8 per cent in the fourth quarter. That’s down from 10 per cent in the third quarter and 16 per cent in the second.

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