Walmart’s earnings continue to impress in Q1
Walmart’s investments in transforming into a leading omnichannel platform appear to be paying off, with Q1 comparable store sales growth of 3.4% and ecommerce growing by 37%. The company is differentiating itself in the US retail landscape with a digitally-enabled grocery offering that now sees 2,450 stores providing grocery pickup, and 1,000 stores offering grocery delivery.
Walmart continues to meet Amazon head-on with its growing ecommerce offering. Earlier in the week, it announced plans to reach 75% of US shoppers with one-day shipping – a direct response to Amazon, which had previously announced its intentions to make this the standard for its near-100 million Prime members. A key area where Walmart appears to be winning against Amazon is online grocery, leveraging its large, well-distributed store network to offer click & collect to many grocery shoppers that are not yet reachable for Amazon.