Walmart says its Canadian stores picked up shares against rivals amid its fiscal second quarter.
“We further improved our price position against competitors, which contributed to market share gains in key traffic driving categories such as food and consumables,” Walmart chief financial officer Brett Biggs said in remarks prepared for analysts during a conference call to discuss its most recent results Thursday.
“Inventory was also a focus, as the team reduced overall levels, even as sales increased.”
In Canada, Walmart’s greatest rivals in the food section are the significant domestic grocery chains possessed by Loblaw, Empire, Metro and the Canadian arm of Costco.
Walmart Canada’s comparable store sales increased 2.5 percent, trailing just the Mexican arm’s 7.2 percent growth and in front of the United States (1.8 percent), United Kingdom (1.8 percent) and China (0.6 percent).
General revenue for the three months finished July 31 moved to $123.36 billion US, from $120.85 billion US. Wal-Mart’s universal income was down 1.5 percent at $29 million US, because of divestitures.
Walmart’s online sales surged 60 percent.
Walmart’s push to revive movement in stores keeps on making strides. Sales at U.S. stores open no less than a year expanded 1.8 percent, the twelfth straight quarter of growth for the figure. Traffic rose 1.3 percent.
Walmart Stores Inc. earned $2.9 billion US, or 96 cents for every share, for the quarter. A year sooner the Bentonville, Arkansas-based company earned $3.77 billion US, or $1.21 per share.
Stripping out specific things, income were $1.08 per share.
The retailer anticipates 2018 adjusted earnings of between $4.30 and $4.40 per share. It predicts second from last quarter profit of 90 to 98 cents for every share.