The world's largest retailer on Thursday said more shoppers visited its stores during the three months ended July 31, as traffic grew 1.2 percent. That number stood in stark contrast to the results from Target, which Wednesday reported its first traffic drop in a year and a half. Using the number of transactions as a proxy for traffic, footfall at the bull's-eye retailer declined 2.2 percent in the fiscal second quarter.
"Our customers like what they're seeing in the stores," Wal-Mart CFO Brett Biggs said. "When you have higher in-stocks and your service levels are better the customers see that."
Wal-Mart has been investing big bucks to make its stores cleaner and more enjoyable to shop. That includes a $2.7 billion investment into training and wages for its workforce.
Biggs also cited the expansion of its online grocery business, which lets customers place their orders online and pick them up in the store. This service was rolled out to 30 new markets during the quarter for a total of about 60.