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☆ Walmart raises full-year earnings forecast as grocery, online growth fuel higher sales
▼ + stars: | 2023-08-17 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +5 min

It said adjusted earnings per share for the year will range between $6.36 and $6.46. That compares with its prior guidance for consolidated net sales gains of 3.5% and an adjusted earnings per share range of between $6.10 and $6.20. Transactions increased by 2.9% and the average ticket rose by 3.4% for Walmart U.S.Same-store sales for Walmart U.S. grew by 6.4% in the second quarter, excluding fuel, compared with the year-ago period. Sales for Walmart Connect, the company's advertising business in the U.S., grew 36% year over year. In the grocery department at Walmart U.S., sales of private labels rose 9% year over year.

Persons: John David Rainey, Rainey, Doug McMillon, Judith McKenna, Kath McLay, Chris Nicholas, " Rainey, Walmart's, John Furner Organizations: Walmart, Walmart U.S, CNBC, Sam's, Walmart Connect Locations: U.S

☆ Walmart names insider Latriece Watkins as US merchandising chief
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +1 min

May 5 (Reuters) - Walmart Inc (WMT.N) appointed Latriece Watkins as its U.S. chief merchandising officer, according to a memo seen by Reuters on Friday, days after Charles Redfield stepped down from the role. Watkins, who joined the company 24 years ago, has served in several roles across Walmart U.S. and Sam's Club. Last month, Walmart U.S. CEO John Furner wrote to associates that Redfield would step down and assume an advisory role supporting the U.S. business effective May 1. Watkins' appointment takes place at a time when consumer spending power has been reduced by high inflation, hurting Walmart's business and leading the company to adopt a cautious stance on 2023. "We have a rich history of strong leaders who embrace this constant change, set bold visions for our teams and best represent the humanity that is Walmart," Furner wrote in the memo.

☆ Walmart’s US chief marketing officer stepping down as retailer warns of tough year
▼ + stars: | 2023-04-15 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +3 min

New York CNN —Walmart’s chief merchandising officer for its US operations is stepping down from the job as the retailer faces a tougher year ahead, an internal memo shared to US associates Friday said. In a memo viewed by CNN Business, Walmart U.S. CEO John Furner said Redfield wants to spend more time with his family. Redfield held his position at the retailer for a little more than a year, beginning in January 2022. Its strong holiday sales were fueled by groceries. “There are merchants, and then there’s our Chief Merchandising Officer Charles Redfield,” CEO John Furner said in a memo viewed by CNN Business.

☆ Walmart US merchandising chief Redfield to step down
▼ + stars: | 2023-04-14 | by ( ) www.reuters.com time to read: +1 min

April 14 (Reuters) - Walmart Inc (WMT.N) U.S. chief merchandising officer Charles Redfield is stepping down after just over a year in the role, according to an internal memo seen by Reuters on Friday, at a time the retailer is navigating a tightening spending environment. Redfield will assume an advisory role supporting the U.S. business effective May 1, Walmart U.S. CEO John Furner wrote in a memo to US-based associates on Friday, without naming a successor. Data from the Commerce Department on Friday also showed U.S. retail sales fell more than expected in March. Redfield started his Walmart career as a cashier at Sam's Club and has been with the company for 32 years. He had led the U.S. food and grocery business since 2015 prior to taking up his role as chief merchandising officer.

☆ Walmart Shakes Up U.S. Leadership Ranks
▼ + stars: | 2023-04-14 | by ( Sarah Nassauer | ) www.wsj.com time to read: 1 min

Walmart is the country’s largest retailer by revenue. Walmart Inc. is shuffling the leadership of its merchandising ranks, according to a document viewed by The Wall Street Journal, a shift at the country’s largest retailer as it works to navigate an unpredictable consumer landscape. Charles Redfield , who became chief merchandising officer last year, will leave the role May 1 and stay on as an adviser, said John Furner , who leads Walmart ’s U.S. operations, in a memo to staff Friday.

☆ Walmart's chief merchandising officer to depart as retailer navigates tough sales environment
▼ + stars: | 2023-04-14 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: 1 min

Walmart Chief Merchandising Officer Charles Redfield is stepping down next month. Walmart U.S. CEO John Furner said in an employee memo on Friday that Redfield will leave the role on May 1. He will stay on as an advisor for the business. The Wall Street Journal first reported Redfield's departure. Redfield's replacement has not yet been announced, a company spokesman said.

☆ Walmart's US CEO tells workers not to worry about their jobs despite announcing a major push into store automation
▼ + stars: | 2023-04-07 | by ( Ben Tobin | ) www.businessinsider.com time to read: +4 min

More specifically, one area where Walmart is seeking to increase investment is in market fulfillment centers (MFCs), which are automated fulfillment centers built within, or added to, a store. Walmart piloted this concept at a store in Salem, New Jersey, in 2019, using automated robot technology from Alert Innovation — a robotics company Walmart acquired in October 2022. Those include "manual MFCs," where associates pick items for online orders but in a separate area from the sales floor. Walmart will still need at least the same level of workers to help in stores even as automation picks up, company leaders say. Still, Walmart is laying off workers at fulfillment centers nationwide.

☆ '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.

☆ 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.

☆ Even with a bump to $14 an hour, Walmart workers won't make nearly as much as some activists say they should
▼ + stars: | 2023-01-25 | by ( Dominick Reuter | Ben Tobin | ) www.businessinsider.com time to read: +3 min

Walmart on Tuesday said it would raise its minimum wage to $14, affecting thousands of US workers. Activists have been pushing for a $15 minimum wage for over a decade, and now say at least $20 is needed. The federal minimum wage has been $7.25 since 2009, even as the cost of living has soared. Up until the middle of last decade, Walmart's minimum wage had matched the federal level at $7.25. One year later, Target also announced it would be raising its minimum wage to $15 per hour.

Walmart said Tuesday it would raise the average hourly wage of its associates to more than $17.50 an hour — up from about $17 an hour. A Walmart representative also told CNBC Tuesday that its overall minimum wage would climb to $14 an hour, a roughly 17% jump for workers who stock shelves and serve customers. The range of salaries for store employees will also climb to between $14 and $19 an hour, from $12 and $18 an hour. About 340,000 store employees will get a raise, representing 21% of Walmart’s 1.6 million U.S. employees. "The labor market for most workers cooled somewhat over 2022, but it’s still hot," he said.

☆ Walmart raises minimum wage as retail labor market remains tight
▼ + stars: | 2023-01-24 | by ( Melissa Repko | ) www.cnbc.com time to read: +3 min

Walmart said Tuesday it is raising its minimum wage for store employees to $14 an hour, representing a roughly 17% jump for the workers who stock shelves and cater to customers. Starting in early March, store employees will make between $14 and $19 an hour. About 340,000 store employees will get a raise because of the move, Hatfield said. Some of those pay increases will also go toward store employees who work in parts of the country where the labor market is more competitive, the company said. Target , for instance, announced in 2017 it would gradually raise its minimum wage and reached $15 an hour in July 2020.

☆ Walmart is raising its minimum wage to $14 an hour
▼ + stars: | 2023-01-24 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

In many areas of the country, particularly southern states that have not adopted higher wage laws, Walmart’s starting wage often serves as the local minimum wage. Amazon (AMZN) and Target (TGT) have a $15 minimum wage, while Costco (COST) starts at $17 an hour. Walmart is trying to keep pace with rivals as well as cities and states that have been raising their minimum wages. The federal minimum wage has been $7.25 an hour since 2009. Washington State has the highest minimum wage in the country at $15.74.

☆ Walmart-backed fintech startup plans to launch its own buy now, pay later loans
▼ + stars: | 2022-12-09 | by ( Melissa Repko | ) www.cnbc.com time to read: +4 min

Buy now, pay later allows customers to gradually pay off a purchase with fixed monthly payments, along with interest. The news about the Walmart-backed startup's interest in buy now, pay later was first reported by The Information. Buy now, pay later has become a more crowded space, with companies including Affirm, PayPal , Klarna and AfterPay all offering their own versions. Apple also announced plans to launch its own buy now, pay later option, Apple Pay Later. Ahead of last holiday season, it ended its layaway program and replaced it with the buy now, pay later financing.

☆ The wild success of Walmart's generic cream cheese perfectly encapsulates the problems with the American economy right now
▼ + stars: | 2022-12-09 | by ( Alex Bitter | Ben Tobin | ) www.businessinsider.com time to read: +4 min

Walmart's cream cheese was one of the fastest-growing brands of 2022, according to Morning Consult. It was cream cheese from Walmart. Store-brand cream cheese isn't a typical contender for most popular product, said Emily Moquin, food and beverage analyst at Morning Consult. Philadelphia is the market leader in cream cheese, Morning Consult's Moquin said. "That is partially why we see this very specific category of cream cheese being on the list."

☆ Walmart CEO says inflation on toys and clothing is letting up. This could help the retailer put a dent in its excess inventory.
▼ + stars: | 2022-12-06 | by ( Ben Tobin | ) www.businessinsider.com time to read: +3 min

That could help Walmart work down its stockpile of discretionary goods, as inflation has tightened wallets. "In toys, sporting goods, apparel, categories like that, prices have come down more aggressively," McMillon told CNBC on Tuesday. The softening inflation in non-essential categories comes as Walmart has been trying to clean out its inventory heading into 2023. Walmart finished the first quarter of 2022 with a 32% year-over-year increase in inventory due to inflation and supply-chain issues. In earnings calls throughout the year, McMillon, Walmart US President and CEO John Furner, and others in leadership have all said that the category is contributing to excess inventory.

☆ Some Retailers Are Learning to Love Bulked-Up Inventories
▼ + stars: | 2022-12-01 | by ( Liz Young | ) www.wsj.com time to read: +6 min

Discount retailers Burlington Stores Inc. and TJX Cos. are among those happy to stock up as other merchants look to off-load goods. “Last year, our store inventories were just too lean going into the spring,” Mr. O’Sullivan said on a Nov. 22 call with analysts. The overall retail sector’s ratio of inventories to sales, a measure of how much companies have in stock compared with what they sell, remains tight by historical standards. The ratio for inventories to sales at those stores was 1.54 in September, up sharply from 1.39 in September 2019, according to Census Bureau figures. The company reported inventories rose 44% in the latest quarter compared with the same period a year earlier.

☆ Virginia Walmart mass shooting survivor files $50 million lawsuit
▼ + stars: | 2022-11-29 | by ( ) www.cnbc.com time to read: +6 min

"Bullets whizzed by Plaintiff Donya Prioleau's face and left side, barely missing her," the lawsuit states. The lawsuit alleges that Bing "had a personal vendetta against several Walmart employees and kept a 'kill list' of potential targets prior to the shooting." The lawsuit states that she also informed Walmart that Bing called her a "bitch" under his breath. Before the shooting, Bing told co-workers that "the government was watching him," the suit says. Jessica Wilczewski, a Walmart employee who witnessed the shooting, told The Associated Press last week that Bing seemed to target certain people.

☆ What's open and closed on Thanksgiving
▼ + stars: | 2022-11-24 | by ( Jennifer Korn | ) edition.cnn.com time to read: +2 min

Many stores that were once open on Thanksgiving have changed policy since the pandemic, shuttering for the day before Black Friday sales. Here are the businesses and institutions that will be open and closed on Turkey Day. We’ll again be closed on Thanksgiving,” Walmart (WMT) US CEO John Furner said in an October interview on NBC. Costco (COST), Home Depot (HD), Nordstrom (JWN), Publix, Sam’s Club, Trader Joe’s and others have been closed on Thanksgiving for many years. As for retail pharmacies on Thanksgiving Day, CVS, Walgreens and Rite Aid will be open with varying hours.

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.

☆ Walmart, Best Buy, Trader Joe's and other retailers will be closed on Thanksgiving this year — see the list
▼ + stars: | 2022-11-23 | by ( Ann Matica | ) www.businessinsider.com time to read: +9 min

Stores like Walmart and Best Buy will be closing their doors on Thanksgiving again this year. Here's a list of retailers that have decided to stay closed on Thanksgiving Day. AppleREUTERS/Alyssa PointerApple stores located in the US will be closed this Thanksgiving, according to a company spokesperson. NordstromJeff Greenberg/Contributor/Universal Images Group Editorial via GettyNordstrom will not be opening its doors for business this Thanksgiving, according to Forbes. PetcoEducation Images/Contributor/Universal Images Group Editorial via GettyA company spokesperson confirmed to Insider that Petco will remain closed on Thanksgiving Day.

☆ Walmart just lost its top health official. It's a blow as the retailer tries to compete with Amazon and win a bigger slice of the healthcare industry.
▼ + stars: | 2022-11-21 | by ( Ben Tobin | ) www.businessinsider.com time to read: +5 min

Dr. Cheryl Pegus joined Walmart as executive vice president for health and wellness in December 2020. Her departure comes as Walmart has faced challenges rolling out health clinics nationwide. Walmart Health and WellnessThe move is a major blow as Walmart competes with the likes of Amazon, CVS and Walgreens to win a bigger slice of the lucrative $4.3 trillion health care industry. What's next for Walmart HealthThough Walmart Health will no longer operate with its leader of about two years, company executives are still optimistic about the performance of the business segment. Marcus Osborne, the previous head of Walmart Health Clinics, announced he left the company at the start of the year.

☆ Inflation is still pushing higher-income shoppers to Walmart for groceries, giving the retailer a boost ahead of the crucial holiday season
▼ + stars: | 2022-11-15 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +4 min

Higher-income consumers are still grocery shopping at Walmart, a trend that began earlier this year. Most of Walmart's grocery market-share gain in Q3 came from households making $100,000. But the brand's low prices and penchant for discounting — or in Walmart parlance, rollbacks — have also historically attracted lower-income shoppers. Walmart noted that shoppers are also turning to Walmart's private-label brands to save money, a trend Walmart began noticing earlier this year as shoppers began to feel inflation pressure. Shoppers traded down to private label versions of dog food, baby products, baking goods, and proteins, Walmart said.

☆ 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.

☆ Walmart, Target, Best Buy, and at least 15 other retailers will be closed on Thanksgiving this year — see the list
▼ + stars: | 2022-10-21 | by ( Ann Matica | ) www.businessinsider.com time to read: +8 min

Retailers like Walmart and Target are closing their stores on Thanksgiving Day again this year. The following year, Target followed suit, announcing it would be closed on Thanksgiving for good. Here's a list of retailers that have decided to stay closed on Thanksgiving Day. While a small number of employees still work on Thanksgiving Day to keep things operating smoothly, they all receive holiday pay, according to Target. PetcoEducation Images/Contributor/Universal Images Group Editorial via GettyA company spokesperson confirmed to Insider that Petco will remain closed on Thanksgiving Day.

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