The first four months of 2016 were marked by a surge in shopping trips to the nation’s top-selling Walmart stores, as more people moved to the company’s major stores.
The number of shopping trips per store increased by more than 400 percent over the same period in 2015, according to data from the company.
Walmart’s first-quarter 2016 sales totaled $7.7 billion, and the company said that its total profit rose to $2.9 billion.
The company’s first quarter net income rose to about $1.4 billion.
Walmart has been steadily improving its performance on the back of the $1 trillion it spent on its stores during the first nine months of this year, and CEO Doug McMillon has said that he’s looking for Walmart stores to outperform comparable stores in certain categories.
Walmart had been expected to make a profit of about $6 billion in the first quarter, according the Wall Street Journal.
But the company recorded a net loss of $2 billion in that quarter, compared to $1 billion for the same quarter last year.
Walmart is also facing a growing competition from Target, which has opened up its own stores in a bid to gain a foothold in the department-store market.
The retailer said that it’s expected to add 50,000 stores in 2017.