Wal-Mart Stores, Inc. has released its first quarter earnings for the 2018 fiscal year, citing significant online growth as a source of its success. The U.S. retailer noted that Canada’s overall performance was also a high note for the company.
“In Canada, net sales increased 2.7 per cent and comp sales increased 1.5 per cent. During the quarter, we reduced inventory levels even as sales increased, and according to Nielsen we continued to gain market share in key traffic driving categories like food and consumables, and health and wellness,” said Wal-Mart Stores in an analysts’ call. “Continued planned investments in price and in-store efficiency initiatives are being supported by progress with our cost analytics program.”
The team added that Canadian business continues to perform well, with 12 consecutive quarters of positive comp sales.
With online sales looking up for Walmart, it looks like the retail giant has a chance at competing with Amazon—a rivalry which has been particularly strong this year. However, for independents, this e-commerce growth could signal weakened sales. As a result, it is imperative that bricks-and-mortar stores up their sales game with special offerings, excellent in-store service, and an overall stellar experience.
