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Walmart Reports Best Sales Quarter In Three Years

May 17, 2012
KEYWORDS Sam's Club / Walmart
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Bentonville, Ark.-based Walmart said Thursday that same-store sales in the U.S. rose 2.6 percent in its fiscal first quarter, its best quarterly performance in the category in three years.

 

While not singling out its private label strategy in a pre-recorded conference call, Walmart said its focus on the bottom line helped win customers’ dollars from February through April 30.

 

“During the first quarter, we executed our core strategy, delivering the right assortment, at the right time, and for the lowest price,” said Bill Simon, president and CEO of Walmart U.S. “Our core strategy has been focused on re-energizing the productivity loop. We lower our costs in order to lower our prices, so we can give customers a great assortment at the lowest prices.”

 

Simon said that Walmart made particular gains by investing on lowering prices in its food and consumables products.

 

“As we had planned, we reduced our gross profit rate and drove traffic with a broad assortment and a favorable mix,” he said. “In addition, we significantly leveraged expenses for the quarter.”

 

In addition, Simon said that marketing for the company focused on price in the first quarter, and that trend would continue throughout the year.

 

“The introduction of our new ‘Low Price Guarantee’ commercials assured shoppers that they’d save money at Walmart with everyday low prices, delivering savings for real family baskets,” he said.

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