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☆ Walmart has designed inclusive uniforms for workers, ranging from a 'women's cut vest' to a 'hard of hearing or deaf vest'
▼ + stars: | 2023-03-15 | by ( Ben Tobin | ) www.businessinsider.com time to read: +2 min

Walmart displayed seven types of store-level employee vests at a meeting for managers in Florida. The new uniforms included "maternity vests" for pregnant employees and "wheelchair user vests." The new selection comes after Walmart introduced customizable uniforms for workers in 2019. Walmart has designed a vest for individuals who are hard of hearing or deaf. Previously, starting in 2014, Walmart employees could only wear white or navy collared shirts with khaki or black pants and close-toed shoes.

☆ Walmart offers affordable Easter meals to lure thrifty shoppers
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +1 min

March 13 (Reuters) - Walmart Inc (WMT.N) said on Monday it would offer Easter meals and bundles at affordable prices, a move aimed at drawing more customers to its stores at a time when egg prices have surged and consumers are keeping a tight grip on their wallets. The price of eggs, a staple of Easter baskets, has been near a record high for months as outbreaks of avian flu have killed more than 58 million backyard and commercial chickens and turkeys since February 2022. Walmart said on Monday it would keep the prices of its Easter essentials consistent with 2022 and offer the Easter meal and basket combo for less than $100, both online and in stores. This year, Walmart's Easter meals and baskets will include staples like ham, green beans and cherry pies, along with decorative grass, Hershey's (HSY.N) Milk Chocolate Bunnies and Reese's Eggs. Reporting by Mehr Bedi in Bengaluru and Siddharth Cavale in New York; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

☆ Factbox: Life and career of film and TV actor Robert Blake
▼ + stars: | 2023-03-10 | by ( ) www.reuters.com time to read: +1 min

LOS ANGELES, March 9 (Reuters) - The following are select facts about the life and career of screen actor Robert Blake, who was acquitted in 2005 of murdering his wife but later found liable for her death in a civil trial:* Blake was about 6 years old when he started his Hollywood career. Before that, he and his brother and sister were part of an act known as "The Three Little Hillbillies" on the vaudeville circuit. Even though his earnings would provide most of his family's income, Blake said his father used him as "his punching bag." As a child he also worked with Laurel and Hardy, Jack Benny, John Wayne, John Garfield and Gene Autry. Other jailhouse visitors included musician-composer Quincy Jones, comedian Mort Sahl, and Scott Wilson, Blake's "In Cold Blood" co-star.

☆ Adam Taggert's financial advice YouTube channel Wealthion has exploded to a monthly viewership in the millions in under 2 years. He explains why he's had such quick success — and what's next for the b
▼ + stars: | 2023-03-08 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

Adam Taggart founded the YouTube channel Wealthion in April 2021. Adam Taggart, the founder of the financial education YouTube channel Wealthion, considers himself in a similar spot in the financial media landscape. Financial television outlets, he believes, aren't offering viewers the kind of mentally-nourishing content he thinks they need. But again, Taggart thinks his greatest strength is in providing a product that he believes viewers have a hard time finding elsewhere. "Wealthion was really born out of a desire to help the average American build wealth in a system that's kind of stacked against them," he said.

☆ Texas and Portland, Oregon, politicians take to Twitter to argue over why Walmart is closing stores
▼ + stars: | 2023-03-08 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

Walmart has said its closing stores this year for many reasons and hasn't called out retail crime. Mayor Ted Wheeler replied on Monday, referring to "dozens of Walmart stores that have closed in Texas in recent years." "The retail industry is changing and retail theft is a national issue," he added. They say that the problem isn't individual shoplifters but organized retail crime that involves multiple thieves taking large quantities of goods from stores. Walmart CEO Doug McMillon told CNBC in December that Walmart would close stores and raise prices unless theft at its stores slowed down.

☆ Walmart to invest nearly $1.5 bln in Mexico and Central America in 2023
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: 1 min

MEXICO CITY, March 7 (Reuters) - Walmart's unit in Mexico and Central America, known as Walmex (WALMEX.MX), plans to spend around 27 billion pesos ($1.49 billion) in the region in 2023, it said on Tuesday. Just under half of the investment will go to remodeling and maintaining existing stores, while nearly 30% will go to new stores and clubs, Walmex said in a filing following an event with investors and analysts. ($1 = 18.1026 Mexican pesos)Reporting by Kylie Madry; Editing by Daina Beth SolomonOur Standards: The Thomson Reuters Trust Principles.

☆ Walmart will derive more profit from services, ad sales in next 5 years -CFO
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: +3 min

"Today, the vast majority of our overall profits are attributable to in-store brick-and-mortar in the U.S.," John David Rainey, Walmart's CFO, said at a Raymond James Conference. Services, such as fees Walmart collects from third-party sellers on Walmart.com, the cut it gets if Walmart fulfills those orders to shoppers and the dollars that advertisers spend through Walmart's growing retail media business, are the higher-margin, faster-growing parts of Walmart's business, Rainey said. Most recently, Amazon disclosed $11.6 billion in revenue from its ad business in the fourth quarter. The business has grown rapidly since then, with sales rising nearly 30% to $2.7 billion in its fiscal year ended Jan. 31. In the fourth quarter, ad sales rose 41% year-over-year, the company said last month.

Carlsberg shares have risen more than 60% during Hart's tenure, outperforming AB Inbev and Heineken, whose shares have dropped around 47% and risen around 45% respectively. Carlsberg's shares fell 3.5% at market open in Copenhagen, but later pared losses and were 0.7% lower at 1118 GMT. "Cees 't Hart has delivered remarkable results during his time at Carlsberg," Supervisory Board Chair Henrik Poulsen said. It is also seeking an option to buy back the Russian business in the future. With only around 16% of revenue coming from Eastern Europe, Carlsberg's biggest markets are Western Europe and Asia.

☆ Carlsberg CEO Hart's retirement plan triggers share fall
▼ + stars: | 2023-03-07 | by ( Nikolaj Skydsgaard | ) www.reuters.com time to read: +2 min

Hired in 2015, partly to help restore sluggish sales in its Eastern Europe division, including Russia, Hart has successfully overseen Carlsberg's SAIL'22 strategy, which focused on cutting costs and improve sales of more premium beer brands. Carlsberg said in a statement that Hart planned to leave by the end of the third quarter. "Cees 't Hart has delivered remarkable results during his time at Carlsberg," Supervisory Board Chair Henrik Poulsen said. "He has really been a significant person in the transformation that has taken place, it's been very impressive to witness," Laustsen added. It is seeking an option with the buyer to buy back the Russian business in future.

Like Willis, private economists and analysts at payroll firms and staffing companies also see a labor market that is stressed but adjusting. A recent Goldman Sachs study concluded wage growth should continue slowing even with the current low unemployment rate of 3.4%. But even that came with slowing wage growth, and the gain was amplified by seasonal adjustments used to factor out expected swings in hiring during holidays and summer. Nela Richardson, chief economist at payroll processor ADP, said even as economy-wide hiring remains strong, the tech layoffs may be helping mute overall wage growth. "If that is a trend...we would expect there would be less drive for wage growth," she said.

The average cost of a financed used car has risen significantly since the pandemic began. Even if the price of a used car comes back down, you might still get hit by high interest rates. Americans' cars are worth $313 billion more than 2020Many of the used vehicles on America's roads are worth considerably more now than they were last year. That means that while many used cars likely haven't appreciated in value, newer cars have risen in value significantly. All the used cars that were financed last year are worth a collective $1.5 trillion — $313 billion more than they were worth in 2020.

☆ Walmart to nearly double its U.S. health center locations in 2024
▼ + stars: | 2023-03-02 | by ( ) www.reuters.com time to read: +1 min

NEW YORK, March 2 (Reuters) - U.S. retailer Walmart Inc (WMT.N) said on Thursday it would open 28 new healthcare centers in the United States next year, including its first ones in Missouri and Arizona. By the end of 2024, the nation's largest retailer by revenue will have more than 75 Walmart Health centers across the United States, it said in a statement. Located inside Walmart Supercenters, the new Health centers will cover about 5,750 square feet and offer services including primary care, dental care, behavioral health, labs and X-ray, audiology and telehealth. The company operated 32 Walmart Health care centers at the end of 2022 and plans to open 17 more this year. Walmart will open the first of the new Health centers in the first quarter of 2024, and end the year with 10 locations in Dallas, eight in Houston, six in Phoenix and four in Kansas City, it said.

☆ Parade — the inclusive underwear brand beloved by Gen Z and self-styled as 'the internet's favorite' — is coming to Target
▼ + stars: | 2023-03-01 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +4 min

Inclusive underwear brand Parade is launching at 400 Target stores this week. The brand is popular with younger consumers, but wants to grow its reach away from its Gen Z core. Self-described as the "Internet's favorite brand," Parade has built itself up around its community of Gen Z nano influencers, who promote and offer feedback on new items. "Our ambition is to be the leading underwear brand for all people," cofounder and CEO Téllez told Business of Fashion. Insider reached out to both Target and Parade for further comment, but did not immediately hear back.

☆ Market conditions are not affecting Instacart's IPO timeline, says CEO Fidji Simo
▼ + stars: | 2023-03-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarket conditions are not affecting Instacart's IPO timeline, says CEO Fidji SimoCNBC's Deirdre Bosa joins 'Power Lunch' to discuss the IPO pipeline, investors taste for risky gig economy companies and Instacart's valuation woes.

☆ Leaked Walmart memo warns employees not to share 'any information about Walmart's business' with ChatGPT or other AI bots
▼ + stars: | 2023-02-28 | by ( Ben Tobin | ) www.businessinsider.com time to read: +3 min

Walmart Global Tech warned employees in a memo not to enter confidential information into ChatGPT. The new guidelines also tell Walmart employees not to share customer information with ChatGPT. Employees "should not input any information about Walmart's business — including business process, policy, or strategy — into these tools," the memo said. Walmart employees must also review outputs of these tools before relying on the information they provide, according to the memo. Have you used ChatGPT or generative AI tools while working for Walmart?

☆ Can't figure out this economy? Walmart, Home Depot are having trouble, too
▼ + stars: | 2023-02-26 | by ( Tim Mullaney | ) www.cnbc.com time to read: +7 min

Joe Raedle | Getty Images News | Getty ImagesIf you think the economy is confusing right now, consider how baffling it must look to Home Depot and Walmart. Home Depot said consumer spending is holding up, but that it expects a flat sales-growth year overall, with declining profits. Friday's PCE showed consumer spending rose more than expected as prices increased, jumping 1.8% for the month compared to the estimate of 1.4%. It wasn't a good week for the retail sector or consumer stocks, either. "The outlook for sustained consumer spending growth remains," wrote consumer analyst Jason English.

☆ ChatGPT could turn out to be hero for humanity or just a 'horrible product'. Here's what Elon Musk, Bill Gates and 10 heavyweights have to say on the red-hot AI.
▼ + stars: | 2023-02-25 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +9 min

Elon Musk, Bill Gates and Paul Krugman have all weighed in on the hottest topic this year – ChatGPT. From prominent names such as Elon Musk and Bill Gates to Wall Street banks like Morgan Stanley, everyone's got something to say. "It's both positive or negative and has great, great promise, great capability," Musk further said of AI, adding that "with that comes great danger." But a few quarters from now, if ChatGPT really starts to bring in significant subscriber fees, then we'll see what happens," O'Leary told Insider's Phil Rosen. Andy Jassy, Amazon CEO"I think it's exciting, what's possible with generative AI," Jassy said about generative AI and ChatGPT.

☆ Customers are loving Costco. But Walmart? Not so much, new survey says.
▼ + stars: | 2023-02-24 | by ( Ben Tobin | Dominick Reuter | ) www.businessinsider.com time to read: +3 min

Costco topped a ranking of customer satisfaction with general merchandise retailers. The annual survey polled nearly 36,000 customers and distilled responses into a 100-point scale. Neither Costco nor Walmart responded to requests seeking comment on the survey results. In the supermarket category, Costco lost out on the top spot to Trader Joes, while Walmart still trailed the pack. Do you shop at Costco or Walmart and want to share your thoughts on the survey?

☆ '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.

☆ CNBC Daily Open: Markets took a beating — and there may be worse ahead
▼ + stars: | 2023-02-22 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Markets had their worst day in three months. This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Some analysts think stocks are facing the reality of higher interest rates —a scenario the bond market has priced in. Subscribe here to get this report sent directly to your inbox each morning before markets open.

☆ Walmart is offloading outdoor brand Moosejaw six years after acquiring it as DTC brands prove tricky to integrate into large companies
▼ + stars: | 2023-02-22 | by ( Ben Tobin | Alex Bitter | ) www.businessinsider.com time to read: +3 min

The sale is part of a trend of large companies struggling to integrate direct-to-consumer brands. Dick's Sporting Goods is buying outdoor retailer Moosejaw from Walmart, the company announced Wednesday. Walmart purchased Moosejaw in 2017 for about $51 million to bolster its outdoor and e-commerce offerings. That same year, the retail giant purchased another direct-to-consumer company, the apparel brand Bonobos. Integrating direct-to-consumer brands is often a challenge for big companies.

☆ Here's how much money you'd have if you invested $1,000 in Walmart 10 years ago
▼ + stars: | 2023-02-22 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +2 min

The company also reported earnings per share of $1.71 compared with the $1.51 analysts expected. Here's how much money you'd have as of Feb. 21, 2023 if you had invested $1,000 into the company one, five and 10 years ago. If you had invested $1,000 into Walmart a year ago, you'd have about $1,084 as of Feb. 21, according to CNBC's calculations. If you had invested $1,000 into Walmart five years ago, your investment would have increased to $1,728 as of Feb. 21, according to CNBC's calculations. And if you had put $1,000 into Walmart a decade to grow, it would have more than doubled and risen to $2,390 as of Feb. 21, according to CNBC's calculations.

☆ Walmart execs say own-brand sales are growing as customers cut spending, and suggest that other brands could put their prices down to compete
▼ + stars: | 2023-02-22 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

More shoppers are buying private-label brands at Walmart amid economic uncertainty, execs say. CEO Doug McMillon told CNBC that by keeping prices low, Walmart could push other brands to drop their prices too. "But there is definitely some acceleration to private brands in the last 90 days." In response, Walmart is focusing on its value proposition and making sure it has high-quality private brands, he said. McMillon told CNBC that by keeping its prices low, Walmart could push other brands to drop their prices.

☆ US stocks fall as worries persist over the Fed keeping rates higher for longer
▼ + stars: | 2023-02-21 | by ( Carla Mozée | ) www.businessinsider.com time to read: +2 min

US stocks fell Tuesday as the shortened trading week starts off with ongoing worries about interest rates. The S&P 500, which fell last week, may post its third consecutive decline. Sign up for our newsletter to get the inside scoop on what traders are talking about — delivered daily to your inbox. The Fed may hike interest rates another three times this year, said Goldman Sachs. The "Canadian Warren Buffett" warned tech stocks are more overvalued than during the dot-com bubble and he foresees a painful sell-off.

☆ Walmart and Home Depot fire off warnings about the American consumer
▼ + stars: | 2023-02-21 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

Walmart and Home Depot warned that sales growth is likely to slow as shoppers look to save money. Between inflation, rising interest rates, layoffs, and other uncertainties, the stresses on household bank accounts are mounting, which could spell trouble as consumer spending represents roughly 70% of the US economy. "Prices are still high, and there is considerable pressure on the consumer," Walmart CFO John Rainey said. In Home Depot's case, CFO Richard McPhail told analysts: "We've assumed, like many economists, that we will see flat, real economic growth and consumer spending in 2023." We don't know what happens to consumer spending.

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