Thursday, August 24, 2017
Wal-Mart Stores Inc. says it is gaining ground on its rivals in the Canadian market, in part by driving down prices.
The retailer reported that its total sales in Canada rose 3.4 per cent in the second quarter, while sales at stores that have been open for at least one year rose 2.5 per cent, up from 2.7 per cent and 1.5 per cent growth, respectively, in the previous quarter, according to a BNN report.
“We further improved our price position against competitors, which contributed to market share gains in key traffic driving categories such as food and consumables,” chief financial officer Brett Biggs told analysts last week.
“Canada is the bellwether for Wal-Mart worldwide,” said retail industry consultant Burt Flickinger in an interview with BNN. “Wal-Mart circled the proverbial wagons in the provinces of Canada as well as the States and what Wal-Mart does to win in Canada will be a leading indicator of how Wal-Mart will win in North America as well as worldwide.”