Thursday, June 5, 2014

Walmart's Neighborhood Market enjoying positive results, growth

Walmart announced last month that comparable-store sales in its Neighborhood Market division increased by about 5% in the fiscal first quarter. Company officials said the results validate their "strategy to accelerate unit growth."

Walmart's Neighborhood Market, which it describes as grocery-drug combination stores that average about 38,000 square feet, has shown 46 consecutive months of positive comps. Between 180 and 200 new Neighborhood Market stores are expected to open this year. There are currently 359 operating stores, none of which are in PA, NJ or DE.

On the other hand, approximately 10% of Walmart's supercenters were underperforming, according to officials, resulting in the development of "store-specific action plans" to address sales at each unit.

No comments:

Post a Comment