BENTONVILLE, Ark.–Wal-Mart executives were upbeat on the retailer’s third-quarter results and the performance of the home business, they said during a conference call.
Sales rose 7.5 percent to $97.6 billion from the year ago quarter. Net income grew to $3.1 billion from $2.8 billion in the year-ago period.
The three-year Project Impact plan—which includes home remodels—is bearing fruit, Lee Scott, president and chief executive officer, said during the call.
The retailer will accelerate remodels in the next few years.
Also, Wal-Mart is identifying categories of business it can win business in, or grow; compete in, or play; or “show,” which refers to businesses that are not growing. And that strategy is paying off in home, according to the retailer.