Walmart says more diners are buying its groceries as fast food gets pricey
Posted on AllSides May 16th, 2024
From The Center
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Forget the drive-thru. Walmart wants diners to find a value meal in its grocery aisles.
As fast food gets pricier, the nation’s largest grocer sees a sales opportunity.
On a call with CNBC on Thursday, Walmart Chief Financial Officer John David Rainey said some of the discounter’s sales growth in the recent quarter came from customers who turned to its grocery aisles for cheaper meals than they can get at quick-service restaurants.
“It’s roughly 4.3 times more expensive to eat out than it is to eat at home,” he said....
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