"We do not seek conflict with Iran or any other country," Trump tells reporters in the Oval Office.Politicsread more
Goldman Sachs says there's still life left in value investing, especially with the Federal Reserve set to cut rates again.Marketsread more
Shopify debuts a new network to help it compete with Amazon.Marketsread more
Nineteen billionaires release a letter asking the 2020 presidential candidates to support a tax on America's richest families.Economyread more
Sen. Bernie Sanders announced a plan Monday to forgive the country's $1.6 trillion outstanding student loan tab, intensifying the higher education policy debate in the 2020...Personal Financeread more
Apple released the iOS 13 public beta and the iPadOS public preview, which means you can check out the new features before the update launches in the fall.Technologyread more
Home Depot CEO Craig Menear said the company aims to minimize any impact that potential tariffs will have on customers by cutting costs elsewhere in the supply chain. The...Retailread more
Shares of Bristol-Myers Squibb plunged Monday after announcing that the target closing date for the proposed acquisition of Celgene has been pushed back and that the deal will...Biotech and Pharmaceuticalsread more
These are the stocks posting the largest moves midday.Market Insiderread more
She takes the helm after Kevin Tsujihara exited the company in March amid an inappropriate relationship with an actress.Entertainmentread more
The Trump administration had argued the president has wide-ranging authority over national security matters.Politicsread more
For example, Walmart recently paid $16 billion to buy a majority stake in Indian e-commerce company Flipkart. In late 2016, it paid $3 billion for then-startup Jet.com.
Amazon "certainly wouldn't have grown to the scale it is, and they wouldn't have got the lead they have" if Walmart had gotten an earlier start, said Storch, former CEO of Saks Fifth Avenue-parent Hudson's Bay.
Walmart does draw "strength" from leveraging its brick-and-mortar stores to compliment its e-commerce operations such as its online grocery ordering and in-store pickup, he said. "That is the model of the future."
Storch appeared on CNBC Thursday just hours after Walmart reported mixed third quarter results.
While revenue fell short of estimates, Walmart earnings beat expectations, fueled by strong e-commerce sales. Online sales were up 43 percent during the quarter.
Walmart also raised full-year forecasts and predicted a strong holiday shopping season.
Brett Biggs, chief financial officer at Walmart, told CNBC the company was still on track to meet its goal of 40 percent e-commerce sales growth for the full year.
Amazon, on the other hand, is growing 20 percent a year "on a much larger base," said Storch, former chairman and CEO at Toys "R" Us.
Walmart has a stock market value of about $290 billion. Shares, while lower Thursday, were still up about 11 percent year-to-date.
Shares of Amazon, which fell into a bear market earlier this week, has a market value of about $760 billion. Amazon had become the second company behind Apple to hit a $1 trillion market cap on Sept. 4. Despite the recent sharp drop, the stock was still up about 35 percent in 2018.