Walmart doubles down on grocery as traditional rivals sputter [Video]

Walmart is doubling down on its grocery business as more consumers turn to the company for their food needs amid lingering inflation. 

The nation’s largest retailer reported in the prior quarter that sales at U.S. stores rose 5.3% as it continued to gain market share in the grocery and general merchandise categories. 

Part of the reason for the growth within the grocery segment, which has seen an uptick in costs from inflation, is that the company is remodeling the produce sections of its stores, and increasing the assortment of food that it’s offering, Walmart CFO John David Rainey told FOX Business. 

WALMART BEATS WALL STREET EXPECTATIONS, RAISES OUTLOOK AS IT OFFERS MORE GROCERY DISCOUNTS

“We’ve got a very high-quality produce offering for people, and it invites them in,” Rainey said. “It’s a much broader assortment than what we’ve had historically.” 

The company has been building new modernized stores and remodeling hundreds of others. Over …