Walmart’s Strong Earnings Show Private-Label Brands With Shelf Appeal Pay Off
Walmart made a bet on high-income customers with a private-label brand of food products packaged to look upscale—and it looks like it paid off.
Walmart announced strong third-quarter earnings this week, and CFO John David Rainey said on the company’s earnings call that “upper-income households” accounted for “the majority of our share gains.”
The company launched Bettergoods, its new private-label brand, in April. With products that are plant-based, organic, and gluten-free, and branding designed to communicate premium ingredients...
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