Wal-Mart touts online grocery service expansion
Aug. 22, 2017
by Monica Watrous
Wal-Mart's online grocery service has expanded to more than 900 stores in the United States
BENTONVILLE, Ark. — Wal-Mart’s online grocery service has expanded to more than 900 stores in the United States, producing “strong results” as the Bentonville-based retailer strives to stay ahead of the evolving retail landscape, said C. Douglas McMillon, president and CEO of Wal-Mart Stores.
|Douglas McMillon, president and CEO of Wal-Mart
“We believe that we’re uniquely positioned to grow and delight customers by providing a seamless shopping experience they desire,” McMillon said during a pre-recorded earnings call on Aug. 17. “Having stores within 10 miles of approximately 90 percent of the US population allows us to serve customers in ways that are most convenient for them.”
Net income attributable to Wal-Mart Stores Inc. in the second quarter ended July 31 was $2,899 million, equal to 96 cents per share on the common stock, down 23 percent from $3,773 million, or $1.21, in the year-ago period. Total revenues of $123,355 million were up 2.1 percent from $120,854 million.
During the quarter, Wal-Mart US comparable sales increased 1.8 percent, with traffic growth of 1.3 percent.
|Brett Biggs, executive vice-president and CFO of Wal-Mart
“Walmart US e-commerce again performed very well on the top line as GMV (gross merchandise value) grew 67 percent and sales increased 60 percent, including acquisitions,” said Brett M. Biggs, executive vice president and CFO. “The majority of this growth was organic through Walmart.com, including on-line grocery, which is growing quickly…
“The grocery business continued to improve as food categories delivered the strongest quarterly comp sales performance in five years, led by strong customer traffic and a return of slight market inflation in food, excluding our own price investments.”