Retail giant Walmart reported revenue and sales gains in the second quarter of Fiscal 2018, driven in part by a strong performance from the grocery category.
Revenue at Bentonville, Ark.-based Walmart’s Walmart U.S. division totaled $123.4 billion in the quarter, up 2.1% from the same quarter last year. U.S. comp sales also were up at the company, increasing 1.8% from last year. Traffic growth also rose 1.3%.
E-commerce sales at Walmart U.S. were up substantially in the quarter. Net sales grew 60%. The company now offers more than 67 million SKUs online.
Walmart U.S.’s grocery sales remained strong in the quarter, delivering the strongest quarterly comp sales performance in five years. Higher food prices benefited food comp sales by about 30 basis points. As of the end of the quarter, about 900 Walmart locations offered online grocery, 230 more than in the first quarter.
“Thanks to the team for delivering another solid quarter,” Doug McMillon, Walmart’s president and chief executive officer, said in a news release. “Our customers are responding to the improvements in stores and online, and our results reflect this.”