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☆ Nestle to launch Vital Pursuit frozen-food brand targeting GLP-1 users
▼ + stars: | 2024-05-21 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

Nestle is launching a new frozen-food brand, Vital Pursuit, aimed at the growing market of consumers who are using GLP-1 drugs like Ozempic and Wegovy. In October, Walmart's U.S. CEO John Furner told Bloomberg that people who pick up GLP-1 drugs from its pharmacies are buying less food, typically with fewer calories. But Nestle sees an opportunity to cater to those consumers through Vital Pursuit. Vital Pursuit's packaging won't include mentions of GLP-1 medications, but Nestle said the company will more directly connect the brand to the drugs on social media. The food company expects that its global growth will slow this year as inflation-weary consumers buy less of its products.

Persons: Oprah Winfrey, Elon, Morgan Stanley, John Furner, Nestle, Steve Presley, Laffy, Ferrero, Presley Organizations: Nestle, Walmart's U.S, Bloomberg, Vital, North, CNBC, Toll, Lean, Swiss Locations: U.S, GLP

☆ What Walmart’s new focus on employee stock could mean for the wealth of the average American household
▼ + stars: | 2024-02-03 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +9 min

Walmart is offering its store managers stock grants, which based on a manager's store format, can range between $10,000 and $20,000. It's not only managers that Walmart wants to encourage to buy into stock ownership. 1 employer, Walmart's decisions are likely to have significant ripple effects and could even lead to broader equity ownership among rank-and-file employees. Already companies such as Ingersoll Rand and Harley-Davidson have taken steps to broaden stock ownership to employees. "Stock ownership is a pillar of worker financial wellness."

Persons: John David Rainey, Chris Taylor, It's, John Furner, Doug McMillon, Biden, Marc Roloson, Aalap Shah, Pearl Meyer, Shah, Brian J, Albert H, Gordon, Stacey Kole, Ed Rataj, Michael Kestenbaum, Gallagher, Peter Follows, Kole, Ingersoll Rand, Davidson, Martin Whitman, Whitman, Pete Stavros's, Walmart's, Harvard's, WTW's Roloson Organizations: New York Stock Exchange, Walmart, International, NYSE, LinkedIn, Companies, Business Administration, Harvard Business School, The University of Chicago Booth School of Business, CBIZ, Carpedia, Harley, Just Locations: U.S

NEW YORK (AP) — Walmart Inc. is raising the starting base pay for store managers, while redesigning its bonus plan that will put more of an emphasis on profits for these leaders. Roughly 75% of its store management started out as hourly workers, Walmart said. Walmart said that the store managers' new starting annual base wage ranges will be from $90,000 to $170,000. Walmart announced in January 2023 that U.S. workers would get pay raises the following month, increasing starting wages to between $14 and $19 an hour. Starting wages had previously ranged between $12 and $18 an hour, depending on location.

Persons: Cedric Clark, Clark, “ They're, ”, “ We’re Organizations: — Walmart Inc, Walmart, Walmart's U.S, Auto Care Centers Locations: Bentonville , Arkansas, U.S

☆ Walmart lifts targets as shoppers pick low-priced groceries for the holiday
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Siddharth Cavale/File Photo Acquire Licensing RightsNov 16 (Reuters) - Walmart (WMT.N) raised its annual sales and profit forecast on Thursday for the second straight quarter, signaling a strong start to the holiday season. The strong demand for low-priced products from groceries to clothing and gifts, coupled with better in-stock levels, has helped Walmart take more market share from other retailers - including dollar stores - in recent months. Walmart now expects fiscal 2024 earnings per share of between $6.40 and $6.48, up from its prior forecast of $6.36 to $6.46. Walmart is also doubling down on holiday merchandise across a wide range of price points to attract inflation-hit customers looking to make Christmas purchases on a budget. Walmart shares, which have gained nearly 20% this year, were down 1% in premarket trading.

Persons: Siddharth Cavale, Doug McMillon, Deborah Sophia, Susan Fenton Organizations: REUTERS, Walmart, Target, Walmart U.S, Walmart's, Thomson Locations: Teterboro , New Jersey, U.S, New York, Bengaluru

☆ Walmart to upgrade 1,400 stores with $9 billion investment
▼ + stars: | 2023-10-30 | by ( Siddharth Cavale | ) www.reuters.com time to read: +2 min

On Friday, 117 stores in 30 states will be re-launched showcasing the enhancements, representing investments of more than $500 million, Walmart said in a statement. In total, it plans to modernize more than 1,400 of its 4,717 Walmart stores across the country. As part of those efforts, the company tested some remodeled concept stores called "Stores of the Future" at a few Walmart Supercenters, including Teterboro in New Jersey, earlier this year. Monday's investments mark the national rollout of that concept, a Walmart spokesperson said. The enhanced stores will have refreshed interiors and exteriors, with new paint, updated flooring, modernized restrooms, LED-lighting and new signage for brighter and easier navigation through the stores, the company said.

Persons: John Furner, Siddharth Cavale, Bill Berkrot Organizations: Investment, Walmart, Sam's, Thomson Locations: Bentonville , Arkansas, New Jersey, New York

☆ Weight loss drugs boost sales at retail pharmacies, but they may not help profits much
▼ + stars: | 2023-08-21 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +5 min

George Frey | ReutersDrugmakers aren't the only ones feeling the impact of the weight loss industry gold rush. Retailers with pharmacy businesses, such as Walmart , Kroger and Rite Aid , said increased demand for prescription weight loss drugs helped boost sales for the second quarter. Are weight loss drugs profitable? A selection of injector pens for the Saxenda weight loss drug are shown in this photo illustration in Chicago, Illinois, U.S., March 31, 2023. For one, branded drugs don't directly compete with other medications because they have patent protections.

Persons: George Frey, Reuters Drugmakers, Arun Sundaram, it's, Elon Musk, Eli Lilly, Doug McMillon, Matthew Schroeder, Schroeder, Rodney McMullen, CFRA Research's Sundaram, Michael Lasser, Jim Vondruska, USC's Schaeffer Organizations: KR NOVO.B, Novo Nordisk, Pharmacy, Reuters, Walmart, Kroger, Rite, CFRA Research, CNBC, Nordisk, Elon, Pfizer, UBS, USC's, USC's Schaeffer Center for Health, Association Locations: Provo , Utah, U.S, GLP, Chicago , Illinois

An employee arranges shopping carts outside a Walmart store in Chicago, Illinois, U.S., November 20, 2018. Shares in Walmart, which have climbed 12.3% this year, were up about 3% in premarket trading. Smaller rival Target (TGT.N) on Wednesday beat quarterly profit estimates, benefiting from leaner inventory, but in contrast to Walmart, cut its forecast for the year. Online sales rose 24% in the second quarter, mainly driven by double-digit growth in store-fulfilled pickup and delivery. The company's global advertising business, called Walmart Connect, rose 35%.

Persons: Kamil Krzaczynski, Hogan, John David Rainey, Aishwarya Venugopal, Siddharth Cavale, Sriraj Kalluvila, Sharon Singleton Organizations: Walmart, REUTERS, Walmart Inc, Riley, Walmart's, Wednesday, Thomson Locations: Chicago , Illinois, U.S, United States, Bengaluru, New York

Despite these challenges, Walmart International has performed strongly under McKenna's leadership, under which it exited poorly performing operations in Japan, Britain, Argentina and Brazil. McKenna has led Walmart International since 2018, overseeing a multi-year transformation that resulted in the unit delivering more growth and stronger financial results across the board, Walmart CEO Doug McMillon wrote in a memo to employees. Sam's Club, a rival to Costco (COST.O), for years had been an underperforming business with muted sales growth. Sam's Club, a business unit with $84 billion of yearly revenue, has posted 12.7% average annual comparable sales growth since McKay took over the division, according to a Reuters calculation. Walmart also announced that Christopher Nicholas, currently chief operating officer of Walmart U.S., would replace McLay as CEO of Sam's Club.

Persons: Mario Anzuoni, Kathryn McLay, Judith McKenna, McKenna, Doug McMillon, Piper Sandler, McKay, she's, Edward Jones, Brian Yarbrough, Christopher Nicholas, Ananya Mariam Rajesh, Siddharth Cavale, Anil D'Silva, Sandra Maler, Jamie Freed Organizations: Walmart, REUTERS, Walmart Inc, Walmart International, Sam's, Woolworths, Sam's Club, Costco, Walmart U.S, McLay, Jan, Thomson Locations: Rosemead , California, U.S, China, Mexico, South Africa, Japan, Britain, Argentina, Brazil, India, Walmart's U.S, Walmart Mexico, Bengaluru, New York

☆ Walmart lifts annual sales, profit view on resilient consumer spending
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +2 min

May 18 (Reuters) - Walmart Inc (WMT.N) raised its annual sales and profit targets on Thursday as the retail behemoth drew from price-conscious shoppers trading down to cheaper groceries, easing worries of softening consumer spending due to inflation. Shares of the top U.S. retailer rose about 2.6% as it also reported better-than-expected results for the first quarter. The strong results are a stark contrast to smaller rival Target's bleak second-quarter forecast, which it blamed on weak consumer demand. Walmart forecast second-quarter results above expectations. "We leveraged expenses, expanded operating margin, and grew profit ahead of sales," CEO Doug McMillon said.

☆ Walmart lays off hundreds of workers at e-commerce facilities
▼ + stars: | 2023-03-23 | by ( Melissa Repko | ) www.cnbc.com time to read: +2 min

Walmart is laying off hundreds of employees at e-commerce facilities across the country, as the big-box giant and other retailers brace for a tougher year ahead. Walmart, the nation's largest private employer, is shrinking its workforce as many retailers plan on roughly flat or declining sales. Walmart's e-commerce rival, Amazon , announced 9,000 job cuts on Monday, following 18,000 layoffs in January. Walmart anticipates slower sales growth and lower profits in the coming year, as Americans put more of their money toward buying necessities like food and household essentials. E-commerce sales for Walmart's U.S. business rose 12% in the most recent fiscal year, which ended Jan. 31.

☆ 'Stubborn' food inflation leaves U.S. shoppers with slim appetite for other goods
▼ + stars: | 2023-02-23 | by ( Siddharth Cavale | ) www.reuters.com time to read: +4 min

Higher prices on food led to soft sales of electronics, toys, home and apparel in the most recent quarter at Walmart. McMillon said he believed inflation on dry groceries and items made for immediate consumption would remain high "for a while". "Food inflation has been the most stubborn of all the categories," Walmart's U.S. CEO John Furner said. Sharp sales declines in categories other than food are forcing retailers like Target (TGT.N) to slash prices on everything from toys to electronics. While groceries comprise 56% of Walmart sales, they make up about 20% of sales at Target, which depends more on home furnishings, apparel and beauty.

Law enforcement work the scene of a mass shooting at a Walmart, Wednesday, Nov. 23, 2022, in Chesapeake, Va. A Walmart night crew supervisor killed six people Tuesday night before taking his own life at the Walmart Supercenter in Chesapeake, Virginia, police said Wednesday. The gunman – identified as Andre Bing, 31, of Chesapeake – was a disgruntled employee, a senior law enforcement official told NBC News. The Chesapeake store will remain closed as authorities investigate the shooting. Other Walmart stores have been the scenes of deadly shootings.

☆ Retailers' biggest holiday wish is to get rid of all that excess inventory
▼ + stars: | 2022-11-13 | by ( Melissa Repko | ) www.cnbc.com time to read: +6 min

Investors want a clearer sense of how much excess stuff retailers have sold off — and how deep they may have to discount to keep merchandise moving. Retailers are under pressure to clear out inventory and start fresh in the next fiscal year. Walmart and Target were among the retailers that shocked investors with significant jumps in inventory levels in the first quarter, which ended April 30. Kohl's swung from having too little inventory last year to having ballooning inventory in the second quarter of this year. Excess inventory could downgrade the shopping experience this holiday season at some stores, too.

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