The company reported earnings-per-share of US$1.13 in the first quarter of 2019, beating analysts’ estimates of US$1.02. Same-store sales growth in the U.S. was up 3.4 per cent, its 19th consecutive quarterly gain. However, it missed revenue estimates, at US$123.93 billion versus US$125.03 billion. Also on Thursday, Walmart Canada announced the creation of two “pickup towers” in its stores in the Greater Toronto Area (GTA). Meant to ease in-store order pickups, customers scan a barcode into the tower’s system, which then brings the requested items down through an elevator structure. (TechCrunch, Mississauga News)

Talking point: Walmart’s strong financials derive mostly from its thriving online grocery business, and growth in both home and fashion online sales on its website. It’s been investing heavily in those areas to compete with Amazon’s expansion into e-commerce. In e-groceries, Walmart has an edge over its competitors because its brick-and-mortar stores—including those in the GTA—can be used as pickup sites, meaning goods ordered online don’t come with a markup. Walmart Canada is making a number of investments in its physical stores to streamline that process. In early May, it announced an investment of over $200 million to refurbish 31 stores, including an expansion of the online-order pickup option.