Walmart doubles down on grocery as traditional rivals sputter [Video]

Walmart is doubling down on its grocery business as more consumers are turning to the company for their food needs amid lingering inflation. 

The nation’s largest retailer reported in the prior quarter that sales at U.S. stores rose 5.3% as it continues to gain market share in the grocery and general merchandise categories. 

As the world’s largest retailer attracts even more cost-conscious consumers, it is also remodeling the produce sections of its stores and increasing the assortment of food that it is offering, Walmart CFO John David Rainey told FOX Business. 

“We’ve got a very high-quality produce offering for people, and it invites them in,” Rainey said. “It’s a much broader assortment than what we’ve had historically.” 

In November, overall food costs rose 2.7% according to the consumer price index. Some fresh vegetables were up even more at 2.9%. 

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