Walmart Reports Softer Sales In Canada, Feels Impact Of Target's Coming

Walmart reported net sales grew 6.1 percent in Canada in the quarter ending April 30, 2013. Same-store sales declined 1.3 percent and customer traffic at stores open for more than a year declined 2 percent. Walmart, which has 379 stores in Canada, reported solid sales of food, consumables, and home products. Also, the retailer gained 120 basis points in market share, according to market research firm Nielsen Co. Walmart had prepared for rival Target's arrival in Canada by expanding its food products and increasing its stores by 13.8 percent.