A Quick Update to Wal*Marts success in gaining grocery volume (below)
In addition to the consumer grocery spending shift to Wal*Mart, commented upon below, both BJ’s and Costco reported strong year over year fourth quarter gains. Same store sales were up 5.4% in BJ’s and 7% (excluding gas) at Costco! These gains were driven by perishable and other food items!!
The move must be in part price driven (duh) as the University of Michigan’s Customer Satisfaction Index measured Wal*Mart’s performance in the fourth quarter at its lowest rating ever (68) down 6% from third Quarter.