With the release of its third quarter fiscal year 2023 report, Walmart is spotlighting pivotal gains across a variety of its segments, including grocery. As a result of its strong performance, the big-box chain is raising its full-year outlook and strategizing to carry this positive momentum into the rest of the fiscal year.
“We had a good quarter with strong top-line growth globally led by Walmart and Sam’s Club U.S., along with Flipkart and Walmex,” said Doug McMillon, President and Chief Executive Officer. “Walmart U.S. continued to gain market share in grocery, helped by unit growth in our food business. We significantly improved our inventory position in Q3, and we’ll continue to make progress as we end the year. From The Big Billion Days in India through our Deals for Days events in the U.S. and a Thanksgiving meal that will cost the same as last year, we’re here to help make this an affordable and special time for families around the world. We have an amazing group of associates that make all this happen, and I want to say thank you.”
As the grocer’s revenue reached $152.8 billion, up 8.7 percent, Walmart reported strong gains in grocery market share.
Some of the other key highlights that Walmart revealed in the release include:
Click here to read the financial report in its entirety.
Keep a tab open for Deli Market News to see how Walmart continues to wield this successful strategy.
