Walmart reported $128 billion in revenue for the second quarter, up 3.8% from the same period in 2017.
Comp sales for Walmart U.S. increased 4.5%, the strongest growth in more than a decade, with grocery one of the leading drivers, according to a news release.
E-commerce sales grew 40%, and the company highlighted the grocery portion of that segment as well.
Walmart executives Doug McMillon and Brett Biggs mentioned fresh food in particular in their comments prepared to accompany the earnings release.
“Fresh food category sales were strong and led to the best grocery comp in nine years,” Walmart CEO Doug McMillon said. “Customers continue to gravitate toward our selection of fresh produce, meat and bakery items that offer great quality at low prices.”
Walmart chief financial officer Brett Biggs described fresh foods as a key area and also noted strong performance there.
“Customers are responding favorably to updated offerings in areas such as bakery, as well as improved signing and presentation in meat and produce,” Biggs said. “Meanwhile our consistent focus on foundational areas such as associate training, supply chain and price are creating competitive advantages and enabling us to take market share.”
Walmart now has more than 1,800 locations with grocery pickup and plans to have grocery delivery accessible to 40% of the U.S. population by the end of the year.
“Grocery pickup wait times continue to come down and our grocery delivery times are improving,” McMillon said. “We’re continuing to innovate with trials of self-driving cars in Arizona for our grocery pickup customers and automated picking capabilities for grocery pickup in our store in Salem, New Hampshire. Overall, our omni-channel initiatives are contributing to comp sales growth and providing customers with new levels of shopping convenience.”