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☆ Walmart has not made changes to LGBTQ-themed merchandise
▼ + stars: | 2023-06-01 | by ( Siddharth Cavale | ) www.reuters.com time to read: +1 min

[1/2] Shopping trolley is seen in front of Walmart logo in this illustration, July 24, 2022. REUTERS/Dado Ruvic/Illustration/File PhotoBENTONVILLE, Arkansas, May 31 (Reuters) - Walmart (WMT.N) on Wednesday said it has not made any changes to its LGBTQ-related merchandise tied to Pride Month, or to security measures in place at its stores, a week after rival Target (TGT.N) pulled some LGBTQ-themed products following customer backlash. Last week, Target pulled some Pride-related merchandise, including items by transgender designer Erik Carnell, saying the products led to "volatile circumstances," such as confrontations between customers and Target employees, and customers throwing Pride merchandise on the floor. Walmart also offers LGBTQ-themed merchandise tied to Pride Month, which is celebrated in June, including rainbow-adorned flags, clothing and accessories. "In this particular case, when we think about security ...we have not done anything in particular differently related to security in our stores," Watkins said.

Persons: Dado Ruvic, Latriece Watkins, Erik Carnell, Walmart's Watkins, Watkins, Siddharth Cavale, Lisa Shumaker Organizations: Walmart, REUTERS, Pride, Target, Thomson Locations: BENTONVILLE , Arkansas

☆ Target Pride backlash exposes 'rainbow capitalism' problem, designer says
▼ + stars: | 2023-05-31 | by ( Helen Reid | ) www.reuters.com time to read: +4 min

[1/2] Erik Carnell, transgender designer and artist whose products were pulled by U.S. retailer Target from its Pride Collection amid backlash from some of their customers, poses for a portrait in London, Britain, May 30, 2023. REUTERS/Dylan MartinezLONDON, May 31 (Reuters) - U.S. retailer Target's decision to remove some LGBTQ-themed merchandise after customer backlash in its stores highlights the problem with companies' "rainbow capitalism," said Erik Carnell, a transgender designer whose products were pulled from its stores. Target (TGT.N) has sold LGBTQ-related goods tied to Pride month for years. Target's collection for Pride Month, which is celebrated every year in June, includes more than 2,000 products, including Carnell's Abprallen brand. "We stand with you now and will continue to do so - not just during Pride Month, but each and every day," he said.

Persons: Erik Carnell, Dylan Martinez, Carnell, influencer Dylan Mulvaney, Brian Cornell, Etsy, Helen Reid, Siddharth Cavale, Kate Masters, Matt Scuffham, Deepa Babington Organizations: U.S, Target, REUTERS, Dylan Martinez LONDON, Kohl's, Pride Month, Anheuser, Reuters, Business, Pride, Thomson Locations: London, Britain, New York

☆ Priyanka Chopra Jonas's brother played a key role in kickstarting her career
▼ + stars: | 2023-05-19 | by ( Alli Rosenbloom | ) edition.cnn.com time to read: +2 min

CNN —Priyanka Chopra Jonas’s journey in the limelight began in 2000 when she was crowned Miss World – thanks in part to a nudge from her younger brother, Siddharth Chopra. “We just had one guest room,” Chopra Jonas told Wallace, adding that their father said at the time, “‘She’s a young woman. “Technically, he got his room back.”The Miss World 2000 pageant put Chopra Jonas on an international stage that led her screen career we know today. Ultimately, she told Wallace, she wanted to “spread my wings” and began looking toward a move to America. (From left) Madhu Chopra, Priyanka Chopra Jonas and Siddharth Chopra in 2019 in Mumbai.

☆ 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 investors eye margins amid grocery focus
▼ + stars: | 2023-05-16 | by ( Siddharth Cavale | ) www.reuters.com time to read: +3 min

Home improvement chain Home Depot (HD.N) cut its annual forecast on Tuesday, indicating weakness for retailers who sell discretionary merchandise. Yet many shoppers have turned to Walmart for its low-priced basics such as toilet paper, milk, green beans and eggs. Investors such as Charles Sizemore, chief investment officer of Sizemore Capital Management, are looking for any specific hit to Walmart's so called gross profit margin. David Klink, senior equity analyst at Huntington Private Bank, which holds $77 million in Walmart shares, said that if Walmart can re-affirm its margin targets, "that would be very well appreciated by investors." Analysts on average are expecting the retailer to post first quarter margins of 3.7%, according to UBS.

Walmart de Mexico (Walmex) (WALMEX.MX) in April said it had bought Trafalgar, a payment app, to compete in a market dominated by Grupo Salinas' Baz, Oxxo's (FEMSAUBD.MX) Spin and MercadoPago of MercadoLibre (MELI.O). Executives at the Walmart unit expect the deal to "unlock Cashi's potential," starting with transfers, withdrawals and remittances while keeping open the option of loans and other financial services in the future. "We want to be the best financial services application in Mexico, and that requires constant investment," Marcelino Herrera, Walmex senior vice president of financial services, told Reuters. Walmart plans over $15 billion in capital expenditures for automation and alternate revenue streams in 2023, including its ad business, third-party marketplace, and deliveries. SYNERGIESWalmart has not defined fintech as a top investment priority but has poured money into it over the past year.

☆ Walmart keeps grocery prices steady amid inflation, antitrust claims
▼ + stars: | 2023-05-05 | by ( Siddharth Cavale | ) www.reuters.com time to read: +6 min

During the period, while U.S. inflation averaged 7.5% Walmart kept prices steady, the Dataweave analysis shows. Reuters Graphics Reuters GraphicsThis was during a time when world food prices hit record highs and U.S. food-at-home prices rose in the double digits. Food-at-home prices, or prices of food bought at grocery stores and supermarkets, are expected to rise a further 6.6% this year, according to the U.S. Department of Agriculture. The data set, which included batteries in the basket of goods, showed that Walmart sold Energizer batteries at a significant discount to rivals. Similarly, at least two different types of Energizer coin batteries sold at Walmart were found to be between 30% and 35% cheaper than the next lowest priced rival.

NEW YORK, April 6 (Reuters) - Walmart Inc (WMT.N) plans to have its own network of electric vehicle charging stations by 2030 to tap into the growing adoption of EVs in the United States. Walmart's more than 5,000 stores and Sam's Club warehouses are located within 10 miles of about 90% of Americans. As EV charging infrastructure ramps up in the U.S., there are widespread concerns over uptime, performance, ease of use and high installation costs of the machines. Owning its chargers, instead of partnering with a network operator, will help Walmart address reliability and cost issues, Kapadia said. Walmart's plan comes as U.S. President Joe Biden has committed to building a network of 500,000 public EV chargers by 2030.

☆ Walmart sees sustained pressure from inflation; to slow hiring pace
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +1 min

April 5 (Reuters) - Walmart Inc (WMT.N) said on Wednesday it was expecting inflation to add sustained pressure to its business this year, and that it was planning to slow the pace of hiring as its uses more automation amid a tight labor market. The world's biggest retailer said on Tuesday that about 65% of its stores were expected to employ some form of automation by the end of its fiscal year 2026. Still feeling the effects of higher prices," Chief Financial Officer John David Rainey said at the company's investor meeting. Rainey expects inflation at about 3% by the end of the year. Reporting by Aishwarya Venugopal in Bengaluru and Siddharth Cavale in New York; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ Walmart aims for 65% of stores to be automation serviced by 2026
▼ + stars: | 2023-04-04 | by ( Siddharth Cavale | ) www.reuters.com time to read: +3 min

The announcement, amid the U.S. retail giant's annual investor meeting in Tampa, Florida, comes as Walmart increasingly uses its huge stores to handle online-order deliveries and invests heavily in automation to speed up order processing at its e-commerce fulfillment facilities. Walmart, which operates more than 5,000 U.S. stores, did not immediately respond to questions about whether the moves will result in any near-term layoffs. It also kept its forecast for first-quarter sales to rise between 4.5% and 5% in constant currency. On a post-earnings call in February, Walmart CEO Doug McMillon said he was "most excited about the automation opportunity we have" with plans to increase investments in automation technology as part of its more than $15-billion capital spending budget this year. Reporting by Siddharth Cavale in New York and Deborah Sophia in Bengaluru; Editing by Sriraj Kalluvila and Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

☆ Walmart says 65% of stores will be serviced by automation in 2026, keeps forecast
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: +1 min

April 4 (Reuters) - Walmart Inc (WMT.N) on Tuesday said it expects about 65% of its stores to be serviced by automation by the end of its fiscal year 2026, just days after it revealed plans to lay off more than 2,000 people at online order fulfillment centers. The move comes as Walmart has increasingly been using its huge stores to handle online-order deliveries and investing heavily in automation to eliminate the time it takes to process orders at its e-commerce fulfillment facilities. On Tuesday, the company said in a filing that about 55% of packages that it processes at its fulfillment centers will be routed through automated facilities by the end of fiscal 2026, improving unit cost averages by about 20%. The world's largest retailer by sales also maintained its forecast for the fiscal year ending Jan. 31, 2024, which calls for net sales to rise by 2.5% to 3% and earnings by $5.90 to $6.05 per share. Reporting by Siddharth Cavale in New York and Deborah Sophia in Bengaluru; Editing by Sriraj Kalluvila and Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

☆ Exclusive: Walmart laying off hundreds of US workers at five e-commerce fulfillment centers
▼ + stars: | 2023-03-23 | by ( ) www.reuters.com time to read: +3 min

NEW YORK, March 23 (Reuters) - Hundreds of workers at five U.S. Walmart facilities that fulfill e-commerce orders are being asked to find jobs within 90 days at other company locations, a spokesperson confirmed to Reuters. The layoffs at Walmart, a retail bellwether because of its size, could be a harbinger of further turmoil in the U.S. economy, which many economists predict could enter recession this year. Walmart is the largest private employer in the United States with about 1.7 million U.S. workers. Apart from Pedricktown, New Jersey, Walmart did not post a Worker Adjustment and Retraining Notification (WARN) notice for the layoffs, according to a Reuters review of labor government data. This, however, still lagged Target and Amazon, which pay workers a starting wage of at least $15 per hour.

☆ 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.

☆ 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.

☆ 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.

[1/2] Customers shop at a mall ahead of the Chinese Lunar New Year, in Beijing, China January 15, 2023. REUTERS/Tingshu Wang/File PhotoLONDON/MILAN/FRANKFURT/NEW YORK, March 1 (Reuters) - The world's top consumer and luxury goods companies have seen sales of everything from cosmetics to condoms grow in China since Beijing ended strict COVID-19 curbs, another sign that the world's No. Tourism from China was helping sales in neighbouring Macau, Hong Kong, Taiwan and even Japan, he added. Reckitt Benckiser, which makes Nurofen tablets, cold remedy Lemsip and Durex, saw a pick-up in China after a decline in volumes because of lockdowns. U.S. retailer Walmart Inc (WMT.N), which operates nearly 400 retail and wholesale stores in China, reported strong traffic in its stores since reopening.

NEW YORK, Feb 28 (Reuters) - Retailers have a new sweet spot: products that cost $3 to $5. Target said on Tuesday that it would be stocking its shelves with more products priced under $10 as the retailer tries to appeal to more cost-conscious consumers dealing with once-in-a-generation inflation. This comes a little more than a year after dollar store chain Dollar Tree (DLTR.O) said it would launch more discretionary products including seasonal items and apparel priced between the $3 and $5. Many, including high-income households, are buying more store-label brands as budgets stretch in the face of higher interest rates. Target said it plans to launch or expand more than 10 owned brands, adding thousands of new products.

[1/3] Ben & Jerry's, a brand of Unilever, is seen on display in a store in Manhattan, New York City, U.S., March 24, 2022. Eliminating less popular products is part of a "decomplexity program" underway at Kraft Heinz, its executives said at the Consumer Analyst Group of New York Conference this week. Nestle said cutting products saved 1 billion Swiss francs last year ($1.06 billion), while Unilever said the practice saved $2 billion. At the consumer products conference they highlighted new offerings, many of them increasingly popular handheld foods that people can eat while scrolling on phones. "You'd be shocked by the loyalty and personal connections people have to food products," he said.

[1/3] Ben & Jerry's, a brand of Unilever, is seen on display in a store in Manhattan, New York City, U.S., March 24, 2022. Nestle said cutting products saved 1 billion Swiss francs last year ($1.06 billion), while Unilever said the practice saved $2 billion. Food makers tend to cull products without much fanfare. At the consumer products conference they highlighted new offerings, many of them increasingly popular handheld foods that people can eat while scrolling on phones. "You'd be shocked by the loyalty and personal connections people have to food products," he said.

☆ '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.

☆ British supermarkets confront their German discounting demons
▼ + stars: | 2023-02-22 | by ( James Davey | ) www.reuters.com time to read: +5 min

And the discounters' supermarket sweep still has a long way to run, industry executives say, with Aldi UK CEO Giles Hurley pledging Britain's lowest prices "no matter what". "Over the Christmas period alone shoppers switched 58 million pounds ($70 million)(of purchases) to Lidl from Tesco and Sainsbury's," Lidl GB CEO Ryan McDonnell told Reuters. Tesco and Sainsbury's are now matching Aldi prices on hundreds of key items and using customer loyalty schemes, while they have accepted a profit hit to keep prices down. Sector executives, speaking on condition of anonymity, said the further rise of Aldi and Lidl is inexorable. "Nobody's going to take Tesco out but at some point somebody might take Sainsbury's out," the sector veteran said.

☆ Walmart cautious on economy, forecasts annual earnings below estimates
▼ + stars: | 2023-02-21 | by ( ) www.reuters.com time to read: +3 min

Feb 21 (Reuters) - Walmart Inc (WMT.N) forecast full-year earnings below estimates on Tuesday, saying it was cautious about the economic outlook for 2023 and that consumers were likely to continue shopping for lower-priced items that could pressure its margins. "There's still a lot of trepidation and uncertainty with the economic outlook. "So, that makes us cautious on the economic outlook because we simply don't know what we don't know." Walmart forecast fiscal 2024 earnings of $5.90 to $6.05 per share, compared with analysts' estimates of $6.50 per share, according to Refinitiv IBES data. Still, Walmart reported strong demand in the quarter ended Jan. 31, posting total revenue of $164.05 billion, a 7.3% increase from last year.

☆ Walmart sees lower 2023 performance in time of economic uncertainty
▼ + stars: | 2023-02-21 | by ( Siddharth Cavale | ) www.reuters.com time to read: +5 min

"There's still a lot of trepidation and uncertainty with the economic outlook. "So, that makes us cautious on the economic outlook because we simply don't know what we don't know." Home Depot (HD.N) also forecast weaker-than-expected annual profits on Tuesday as soaring prices hit demand for home-improvement products. They want the allure of savings and Walmart provides that," said McNew, whose firm holds about 350,000 Walmart shares. Walmart signs are displayed inside a Walmart store in Mexico City, Mexico March 28, 2019.

REUTERS/Dado Ruvic/Illustration/File PhotoFeb 16 (Reuters) - Walmart Inc's (WMT.N) results on Tuesday will provide Wall Street with new details on what items American shoppers are buying as rising grocery prices squeeze their wallets. In December, Walmart CEO Doug McMillon said "we do not like" that some suppliers were hinting at raising prices further in 2023. He warned that Walmart would allocate space to private and tertiary brands if prices got too high. KitKat maker Nestle on Thursday said further price hikes were necessary to offset commodity costs. Still, Wall Street expects Walmart sales and revenue to rise in 2023 as its shipping and logistics costs moderate, even as labor expenses go up.

☆ Walmart to close three U.S. tech hubs, relocate staff
▼ + stars: | 2023-02-13 | by ( ) www.reuters.com time to read: +2 min

Feb 13 (Reuters) - Walmart Inc (WMT.N) will close three of its U.S. technology hubs, asking hundreds of workers to relocate to keep their jobs, a company spokesperson told Reuters on Monday. Nearly all technology employees across the company would be expected to work in their offices for at least two days a week, added Robert Munroe, Walmart's director of global communications. The big-box retailer would close offices that housed technology staff in Austin, Texas, in Carlsbad, California and in Portland, Oregon, Munroe said. The operations would move to hubs including one in San Bruno, California or the company's headquarters in Bentonville, Arkansas, he said, citing a memo sent last week by Walmart's global technology head, Suresh Kumar. The company currently has 11 tech hubs in the U.S. and six abroad, according to its website.

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