Latest news with #DougMcMillon
Miami Herald
9 hours ago
- Business
- Miami Herald
Walmart closes another store amid new customer behavior
As the king of the brick and mortar space, Walmart (WMT) has to stay ahead of changes to remain competitive. It may not seem like physical retail can change in the blink of an eye. Related: Costco customers get bad news from Walmart's Sam's Club But big box stores must be just as adaptable as online retailers; and customers demand that they keep up. "We are a people-led, tech-powered omnichannel retailer dedicated to helping people save money and live better," CEO Doug McMillon said, per Chain Drug Review. "I don't want to underestimate the impact of technological change, but we serve people, and we work with people." And while that people-centric perspective can get you pretty far, it doesn't get retailers all the way over the finish line in our technologically innovative world. So Walmart has embarked on a lofty project to renovate and modernize 650 stores across 47 states. All told, each renovation could run about $1 million per store. "This store was built with the customer in mind. It's part of a larger transformation happening across our stores as we reimagine what shopping looks like for the future. It shows what's possible when innovation meets intention," President John Furner said of the new project. Image source:Some stores don't serve Walmart's vision of the future anymore, though. Walmart said it will close a store in Coon Rapids, Minn. on August 29, 2025. The store is located on Riverdale Drive NW in a large shopping plaza, next to a Hobby Lobby, Skechers outlet, and Plato's Closet. It's about a 30 minute drive from Minneapolis. There are over a dozen Walmart locations in the greater Minneapolis area, and the Coon Rapids location is considered an older store. More Retail: Walmart makes drastic change to fight theft amid worrying trendTarget has new plan to win back customers with big savingsHome Depot makes clear statement amid boycott threatsFamous retail chain makes two more alarming store closures The Coon Rapids Walmart location lacks a robust grocery store, which customers have been increasingly seeking out for affordable food, particularly as tariffs and inflation squeeze the cost of everything from eggs to apparel. A Walmart spokesperson called the store an older format, adding that the closure is also due to a poor financial performance. "We are grateful to the customers who have given us the privilege of serving them at our store in Coon Rapids. We look forward to continuing to serve them at our many nearby locations, on and through delivery to their home or business," Walmart said of the closure. With over 4,600 locations across the U.S., Walmart is always examining its stores for inefficiencies or areas for improvement. It recently did away with the self checkout option at its Shrewsbury, Mo. store as theft reached untenable levels. After Walmart removed the option, theft calls to the police dropped to 11% overall , between January to May 2025. The store saw an over 50% drop in theft overall. Arrests were also down. That store remains open for business, just with assisted checkouts via real cashiers. The Coon Rapids, Minnesota store closure, however, marks the second store closed in the northern Twin Cities area in two years. The Brooklyn Center store, also north of Minneapolis, closed down in April 2023. All 180 affected employees in Coon Rapids store will be eligible for transfers to other stores in the area. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Bloomberg
23-07-2025
- Business
- Bloomberg
Walmart Hires Instacart Executive to Speed Up AI Adoption
Walmart Inc. is hiring an executive from Instacart Inc. to accelerate its use of artificial intelligence as the world's largest retailers looks to bolster its competitive edge. Daniel Danker, chief product officer and head of online grocery at Instacart, will join Walmart as executive vice president of AI acceleration, product and design, according to a memo viewed by Bloomberg News. In the newly created role, Danker will lead AI adoption as well as the product management and design teams. He will report to Chief Executive Officer Doug McMillon.
Wall Street Journal
23-07-2025
- Business
- Wall Street Journal
Walmart Taps Instacart Executive to Lead Its AI Ambitions
Walmart is reworking its artificial-intelligence efforts as the technology becomes a larger part of the retail behemoth's strategy for growth. The company said it has hired Daniel Danker, an executive at Instacart, as the head of global AI acceleration, product and design. Danker will report to Walmart WMT -0.18%decrease; red down pointing triangle Chief Executive Doug McMillon, a sign of how Walmart aims to use AI as a central tool throughout its business. The company said it is also recruiting an AI platforms leader that will report to global chief technology officer Suresh Kumar.
Daily Mail
23-07-2025
- Business
- Daily Mail
Walmart employee claims price of shrimp doubled overnight
By A Walmart employee was stunned to see the price of shrimp double overnight. When the worker shared a photo on Reddit — showing a jump from $4.98 to $9.99 — it quickly went viral. Commenters dubbed it a case of 'shrimpflation,' blaming recent tariffs imposed by President Donald Trump. 'I don't really get into politics but I know whatever is going on is screwed up,' the South Carolina-based worker wrote. Several shoppers claimed tariffs and 'corporate greed' were the key players behind the unbelievable price rise. Others claimed the cost rose because it's the 'start of shrimp season,' and that the price tag has not risen in all of the chain's 10,000+ stores. Price fears were highly talked about for months after Walmart CEO Doug McMillon sounded the alarm on grocery prices last year. Things got worse in the months to follow, and employees went viral for leaking photos of price changes after tariffs forced Walmart to raise product costs . Walmart and Target executives had issued a tariff warning a month before the price hikes became a reality. 'We had a productive meeting with President Trump and his team and appreciated the opportunity to share our insights,' Walmart said of the meeting. The meeting may not have been as useful in the eyes of shoppers who caught a peek of the dreaded price hikes in May. Employees in a string of Reddit posts showed the cost of popular items jumped as much as 80%. Some of the employees' photos included a $3.44 can of Great Value cocoa powder that rose to $6.18 and a $49.97 Hasbro-brand baby doll that used to cost $34.97. The warnings grew drastically last month, and some employees claimed over 15,000 items were repriced in a single store . Workers who aren't thrilled about the price changes may have been the lucky ones since tariffs were a factor in Walmart's decision to slash 1,500 US jobs . Chaos erupted in May after a Target employee posted a photo of a $17.99 USB-C cord that used to be $9.99. 'It's happening,' the worker wrote about the 80% growth. More and more Target employees have since blown the whistle on other products , and claimed that 'everything's going up.' Other chains that fell victim to tariffs include Macy's and Chinese online retail brands Shein and Temu . has reached out to Walmart for comment about the product.
Daily Mail
23-07-2025
- Business
- Daily Mail
Walmart employees expose a 100% price increase for a kitchen staple
A Walmart employee was stunned to see the price of shrimp double overnight. When the worker shared a photo on Reddit — showing a jump from $4.98 to $9.99 — it quickly went viral. Commenters dubbed it a case of 'shrimpflation,' blaming recent tariffs imposed by President Donald Trump. 'I don't really get into politics but I know whatever is going on is screwed up,' the South Carolina-based worker wrote. Several shoppers claimed tariffs and 'corporate greed' were the key players behind the unbelievable price rise. Others claimed the cost rose because it's the 'start of shrimp season,' and that the price tag has not risen in all of the chain's 10,000+ stores. Price fears were highly talked about for months after Walmart CEO Doug McMillon sounded the alarm on grocery prices last year. Things got worse in the months to follow, and employees went viral for leaking photos of price changes after tariffs forced Walmart to raise product costs. Several commenters claimed Walmart's 'corporate greed' was a reason behind the price hike Walmart and Target executives had issued a tariff warning a month before the price hikes became a reality. 'We had a productive meeting with President Trump and his team and appreciated the opportunity to share our insights,' Walmart said of the meeting. The meeting may not have been as useful in the eyes of shoppers who caught a peek of the dreaded price hikes in May. Employees in a string of Reddit posts showed the cost of popular items jumped as much as 80%. Some of the employees' photos included a $3.44 can of Great Value cocoa powder that rose to $6.18 and a $49.97 Hasbro-brand baby doll that used to cost $34.97. The warnings grew drastically last month, and some employees claimed over 15,000 items were repriced in a single store. Workers who aren't thrilled about the price changes may have been the lucky ones since tariffs were a factor in Walmart's decision to slash 1,500 US jobs. Customers have since threatened to boycott the company over the price increases, leaving Reddit users to suggest visiting other stores. Employees and shoppers have been stunned by new product prices over the last few month Target was amongst the top Walmart substitutes in the eyes of employees and shoppers. However, its staff members are just as fearful as those employed at Walmart. Chaos erupted in May after a Target employee posted a photo of a $17.99 USB-C cord that used to be $9.99. 'It's happening,' the worker wrote about the 80% growth. More and more Target employees have since blown the whistle on other products, and claimed that 'everything's going up.' Other chains that fell victim to tariffs include Macy's and Chinese online retail brands Shein and Temu.
