Walmart, the world’s largest retailer, buoyed by the pending acquisition of eCommerce site Jet.com, is expected to further distance itself from discount and bargain retailers in the coming years and months.
Walmart enjoyed a 1.6 percent increase in sales in the past quarter, compared to 1.2 percent from Dollar Tree, 0.7 percent at Dollar General and a 1.1 percent decrease at Target.
Walmart also enjoyed its seventh consecutive quarter of increased traffic, while dollar stores saw a drop in sales and Target saw its first decline in store traffic in about a year-and-a-half, according to CNBC.
Although Walmart is renowned for its low prices, Target appears to be trying to counter its advantage by offering lower prices on non-grocery items.
But a recent study by research firm Jefferies found that Walmart widened the “price gap” between itself and stores like Dollar General, Family Dollar and other grocery stores.
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