Walmart’s revenue grew by 5.7% in the second quarter, driven by food sales and growth in its retail media division.

“Around the world, our customers and members are prioritizing value and convenience,” said Walmart president and CEO Doug McMillon, who added that shoppers are shopping across channels, be it in stores or ecommerce, the latter of which had 24% global growth. Walmart had positive store traffic across markets, and is also seeing higher private brand penetration with value and quality-seeking buyers.

In this morning’s earnings call, McMillon said Walmart can “serve people where they want to be served,” and is focused on making shopping easier and more convenient. “Our data assets are unique,” he said. It is taking large language models and adding retail context to create new models uniquely suited to customers, associates and supply chain.

In Canada, the company’s net sales grew 5.1% thanks to “continued momentum in food and consumables.” While there was “softness” in general merchandise, McMillon said the results nonetheless exceeded the company’s expectations. Ecommerce investments are showing “positive results,” with net sales up 4%.

“Canadian customers are feeling the pinch of higher interest rates faster than in the U.S., given their shorter term mortgages,” McMillon said. Families overall, he says, are more discerning in this environment.

Walmart also had 36% advertising sales growth in its Walmart Connect retail media division in the U.S.

In June, the company began testing new opportunities for omnichannel connections across social media and livestreaming through the Walmart Connect Partner Lab “to deliver even greater value to brands advertising with Walmart,” McMillon said. For example, Walmart recently partnered with Unilever ice cream to key in on TikTok audiences by combining the “power of influencers and Walmart’s first-party audiences, while driving an omnichannel purchase experience.”

Walmart forecast net sales to increase about 4% to 4.5% this, compared to its previous estimate of 3.5%.

This week, Walmart announced that Judith McKenna, CEO of its international business, was retiring after 27 years with the company, to be replaced by Sam’s Club CEO Kath McKlay.