Walmart expects e-commerce sales to increase 40 percent next year

Walmart is escalating its online competition with Amazon and other grocery retailers.

The chain announced during its annual meeting Tuesday in Bentonville, Ark., that it expects its e-commerce sales to grow 40 percent next year. The nation’s largest grocer also said it would add 1,000 online grocery locations in the U.S. through its fiscal year, which ends January 2019.

“We have good momentum in the business, we’re executing our strategy and moving with speed to win with the customer, who is more connected than ever and embracing tools that will save them both time and money,” Walmart CEO Doug McMillon said in a press release. “We’re combining the accessibility of our stores with e-commerce to provide new and exciting ways for customers to shop.”

During the meeting, McMillon discussed accomplishments over the past year, including Walmart's new two-day free shipping with no membership fee.

“We’re equipping our associates with training and technology so they will continue to innovate in our stores, clubs and through ecommerce to find ways to deliver an enjoyable shopping experience for our customers that is easy, fast, friendly and fun,” McMillon added.