Walmart Inc.’s WMT -0.53% quarterly sales rose at a slower pace than earlier in the coronavirus pandemic even as shoppers continued to buy up food and cleaning supplies and the retailer pushed early holiday deals.
Comparable U.S. sales, those at stores or digital channels operating for at least 12 months, rose 6.4% in the quarter ended in late October. It was a third consecutive quarter of strong growth, though below the prior two quarters. E-commerce sales in the U.S. jumped 79% and accounted for much of the latest quarter’s gains.
In the U.S., shopper traffic decreased 14.2%, while the value of the average shopping trip increased 24%. People are making fewer trips to Walmart stores, shifting more spending online and stocking up when they do go to stores, the company said. Sales of groceries, paper goods and household cleaning supplies helped boost sales. Demand for parking lot pickup services or home delivery increased.