Wal-Mart Stores saw an increase of 1.8 percent in US comp sales for the fourth quarter, according to earnings summaries released Tuesday, and the company is particularly happy with its grocery performance.
While the company’s overall growth was slow, it was better than expected for many.
“We were particularly pleased with the positive comp in grocery, despite ongoing market deflation in food, which negatively impacted the food comp by approximately 90 basis points,” Brett Biggs, executive vice-president and CFO, said during a Tuesday earnings call.
Officials hinted that the company would continue to focus on online grocery sales, especially in Wal-Mart’s Supercenter locations.
“The Supercenter remains the best retail format in the world, and going forward, we will continue to leverage these unique assets, even more with initiatives like online grocery, in-store pickup and others,” said Doug McMillon, president and CEO. “Rapid advances in technology mean we need to become more of a digital enterprise, and that’s what we’re doing.”
Biggs listed growing contributions form the roll out of Online Grocery, along with strong growth from e-commerce, as big reasons the company has seen nine straight quarters of traffic growth in stores.
“Clearly, we’re gaining traction and it’s exciting to see how customers are responding to our focus on saving them time and money,” he said.