Wal-Mart on-line grocery service expanding with 'strong results'

by Monica Watrous
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Wal-Mart on-line shopping, e-commerce
Wal-Mart’s on-line grocery service has expanded to more than 900 stores in the United States.
 

BENTONVILLE, ARK. — Wal-Mart’s on-line 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 chief executive officer of Wal-Mart Stores.

Doug McMillon, Walmart
Dougl McMillon, president and c.e.o. of Wal-Mart

“We believe that we’re uniquely positioned to grow and delight customers by providing a seamless shopping experience they desire,” Mr. McMillon said during a pre-recorded earnings call on Aug. 17. “Having stores within 10 miles of approximately 90% of the U.S. 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 96c per share on the common stock, down 23% from $3,773 million, or $1.21, in the year-ago period. Total revenues of $123,355 million were up 2.1% from $120,854 million.

During the quarter, Wal-Mart U.S. comparable sales increased 1.8%, with traffic growth of 1.3%.

Brett Biggs, Wal-Mart
Brett Biggs, executive vice-president and c.f.o. of Wal-Mart

“Walmart U.S. e-commerce again performed very well on the top line as G.M.V. (gross merchandise value) grew 67% and sales increased 60%, including acquisitions,” said Brett M. Biggs, executive vice-president and chief financial officer. “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.” 
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