Over Half of Walmart's Revenues Come From Groceries
The Wall Street Journalreports that Wal-Mart Stores Inc. now makes 51% of its revenues from grocery sales - a 6% increase from a year ago. Many Walmart stores have been converted into giant supercenters
so they can carry groceries as well as other merchandise.
Wal-Mart has been ratcheting up efforts to convert existing stores into supercenters, 100,000 square foot stores that sell consumables in addition to clothing, electronic products and household furnishings. Last year was the first year in memory that Wal-Mart did not open any standard discount stores. It instead converted 86 existing locations into supercenters as well as opening 49 new supercenters.
The retailer now operates 2,750 supercenters in the U.S., while paring back its traditional discount stores to 803 from 1,350 five years ago.
The Wall Street Journalstory also says Target is also busy modifying some of its stores to sell food.
