Marts supermarket chain is doing well, says CEO Maria Martins.
The retailer is selling more products than ever, and the company’s stock is growing fast.
But the company has a long way to go.
Martins is in charge of running the company and it’s her job to make sure it grows and stays profitable.
“The challenge is getting people to pay more for products,” she said during an earnings call on Thursday.
“We have a very hard challenge on our hands and I’m confident we’ll meet that challenge.”
Martins says Walgills products are among the most popular among customers.
The company has more than 3,600 stores and is the second-largest food and grocery store chain in the United States.
Walgalls’ stock has risen more than 10 percent over the past year, thanks in part to its recent decision to expand into the home appliance market.
The grocery chain’s stock has also outperformed many other large retailers, with some analysts predicting it could grow at a compound annual growth rate (CAGR) of 10 percent to 15 percent.
The supermarket chain’s growth is particularly impressive given the fact that it doesn’t have a physical store.
Walgarth, Pennsylvania-based Martins said the store will open a new store in October.
It will include a grocery and home appliance store and the first of its kind in the country.
But for now, the store is just a concept, Martins explained.
She also said the new store will not compete with other stores, but it will serve a wider demographic, which is important for a store like Walgams.
“I think we’re in a really unique situation,” she told analysts.
“A lot of people want a grocery store and they want to be able to shop and they don’t want to have to drive 10 minutes or drive an hour to get there.
That’s a huge change for people who are trying to shop in a big, fast-food kind of way.”
Walgaws new store is expected to open in 2019.
But Martins also acknowledged that it will be challenging to attract shoppers to the new location, which will be about a block from the old Walgops.
Walgoons new store has not been announced yet.
“There’s a lot of things we need to work on and we’ll see where we go from there,” she added.