Latest news with #WALMART
Yahoo
4 days ago
- Business
- Yahoo
Jessica Simpson's $29 Kimono Cardigan Keeps Selling Out at Walmart: Shop It Here
All products and services featured are independently chosen by editors. However, Billboard may receive a commission on orders placed through its retail links, and the retailer may receive certain auditable data for accounting purposes. Jessica Simpson is back on the music scene after a more than 15-year hiatus, but the singer is also back with a new summer collection at Walmart. More from Billboard How to Watch Eurovision Song Contest 2025 Online Jessica Simpson, Salt-N-Pepa, Jelly Roll & More to Perform on 'American Idol' Finale Here's How Kendrick Lamar & Baby Keem Helped Inspire 'Thunderbolts' The singer's clothing collection has long been a bestseller at Walmart, with shoppers loving its blend of laidback Texas charm mixed with California beach vibes, not to mention the affordable prices. Now, Simpson has dropped another instant bestseller with this women's komono. SELLING FAST $29.99 Buy Now AT WALMART This is one of the most popular fashion finds at Walmart right now, with hundreds of shoppers adding it to their carts each day, per the site. The reason: the open-front kimono works as a breezy cardigan alternative, as a coverup at the beach or pool, or as a shawl for nights out. It's lightweight and packable for travel too. The versatility makes it a great addition to any wardrobe. At under $30, the price point makes it a no-brainer to pick up. Simpson's kimono features a relaxed fit with an open front and three-quarter-length sleeves. We love the vintage-inspired floral print, and the crochet trim and lace inserts, which add even more retro appeal. This could just as easily be something you found at an incredible thrift store while traveling, but we won't tell anyone you found it at Walmart! Simpson describes this kimono cardigan hybrid as 'Perfect for all your warm-weather escapades,' adding that 'your free-spirited style is now sorted with a kimono that you can layer season after season.' ALSO CONSIDER $29.99 Buy Now AT WALMART Prefer a different style? Walmart also sells this knitted kimono from the Jessica Simpson collection, made from a super cozy cotton blend material and finished in a shorter length. It also features an open front design and a relaxed fit, and the shorter length makes this great to layer over your dress or T-shirt as a chic shawl or wrap.
India Today
7 days ago
- Business
- India Today
H-1 B visa blamed as Walmart lays off 1,500, MAGA links it to Indian-origin CTO
Walmart's decision to lay off over 1,500 employees has made MAGA supporters claim that the company was replacing American employees with foreign workers on H-1B visas. Their reaction was largely fuelled by the fact that one of the affected departments is Walmart's global tech division. Without any evidence, they have also linked a top Indian-origin executive to Walmart's facts first. The lay-offs aren't taking place in the global tech division, but also in several other departments, like the US e-commerce segment and Walmart Connect, the company's advertising arm, neither of which are linked to H-1B visa hiring, which typically applies to skilled tech decision to cut nearly 1,500 jobs is aimed at streamlining operations and enhancing decision-making efficiency at Walmart, according to Bloomberg, which was privy to some internal discussions. However, the blame on the non-immigrant visa comes amid blanket statements that H-1B visas and immigrants "take away Americans' jobs".Indians make up the largest share of H-1B visa holders. In 2022, Indians made up 77% of the 320,000 approved H-1B visas. In fiscal year 2023, they still accounted for 72.3% of the 386,000 visas RAGE ON WALMART: INDIAN CONNECTION TO LAY-OFFSSome social media users also speculated that the lay-offs came after Walmart was granted 3,800 H-1B visas, although no proof was given."Oh, guess what? The large layoffs today at Walmart are from its technology team. You know, the kind of US worker who's replaced by H1B," one X user Wow, that's a bloodbath. How many H-1Bs are they bringing in next year?," stated another person even shared a photo of Walmart's Global CTO, Suresh Kumar, and questioned whether it was coincident that more than 40% of the company's IT workforce reportedly comprised H-1B hired from India."Walmart has nearly 3,500 H-1B openings with a median salary of $139,000. This isn't "high skilled". They're intentionally replacing American workers with foreigners," shared another person."Oh, guess what? The large layoffs today at Walmart... are from its _technology team_. You know, the kind of US worker who's _replaced_ by H1B," said one blamed the Trump administration."Less than a month after this announcement, Walmart would begin their biggest wave of layoffs in years, while adding thousands of foreign workers at the same time. They have kept up the trend the entire Biden Administration," one person said."How much you want to bet that #Walmart is replacing many of those laid off with #H1B. You are failing America each passing day Donald Trump," wrote a person on WALMART SAYS ABOUT THE LAY-OFFSIn a memo reviewed by Bloomberg, CTO Suresh Kumar and US CEO John Furner stated that the decision to cut nearly 1,500 jobs aims to streamline operations and enhance decision-making is the largest private employer in the United States, with around 1.6 million workers. Globally, it employs about 2.1 million people. It's also the biggest US importer, bringing in nearly 60% of its goods, like clothes, electronics and toys, from round of job cuts follows several other changes in recent months. In February, Walmart closed its office in North Carolina and shifted employees to other main offices in California and April, the retail giant announced it would raise prices, citing Trump's tariffs as excessively high — especially on goods manufactured in move to lay off 1,500 employees is cannot be linked to H-1B visas to the Bloomberg report, Walmart is cutting corporate staff in the company's headquarters in Bentonville, Arkansas, and other offices, people familiar with the matter said, as the world's biggest retailer looks to trim costs and contend with economic Reel
Business Times
15-05-2025
- Business
- Business Times
Walmart shoppers to face price hikes as Trump tariffs hit
WALMART, the world's largest retailer, will have to start raising prices later this month due to the high cost of tariffs, executives said on Thursday, in a clear signal that US President Donald Trump's trade war is filtering through to the American economy. As a bellwether of US consumer health, Walmart's explicit statement is also a signpost for how the trade war is affecting companies as Walmart is noted for its ability to manage costs more aggressively than other companies to keep prices low. Shares were flat in afternoon trading, recouping most of its early losses of 4 per cent in morning trading after it also declined to provide a profit forecast for the second quarter, even as the company's US comparable sales surpassed expectations in the first quarter. Net sales rose 2.5 per cent to US$165.6 billion, a hair shy of estimates, while same-store sales were up 4.5 per cent. Many US companies have either slashed or pulled their full-year expectations in the wake of the trade war, as consumers curtail their spending. Walmart's statement, however, will resonate nationwide, as roughly 255 million people shop in its stores and online weekly around the world, and 90 per cent of the US population lives within 16 km of a Walmart. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up US shoppers will start to see prices rise at the end of May and certainly in June, Walmart's chief financial officer John David Rainey said in a CNBC interview. On a post-earnings call with analysts, he said the retailer would also have to cut back on orders as it considers price elasticity. As the largest importer of container goods in the United States, Walmart is heavily exposed to tariffs, and even though the United States and China reached a truce that lowered levies for imports on Chinese goods to 30 per cent, that's still a high cost to bear, executives said. 'We're very pleased and appreciative of the progress that has been made by the administration to bring tariffs down ... but let me emphasise we still think that's too high,' Rainey said on the call, referring to the tariff cuts negotiated over the weekend. 'There are certain items, certain categories of merchandise that we're dependent upon to import from other countries and the prices of those things are likely going to go up, and that's not good for consumers,' he added. Other retailers also said they would be boosting prices. German sandal maker Birkenstock on Thursday said it plans to raise prices globally to fully offset the impact of the US tariff of 10 per cent on European Union-made goods. US consumer sentiment ebbed for a fourth straight month in April, signalling watchful purchasing, while the country's GDP contracted for the first time in three years during the first quarter, fanning worries of a recession. Still major economic indicators in April showed that tariffs had not pushed America off a cliff, a point noted by the White House in response to a question on Walmart's price hikes. 'All recent inflation data - from consumer prices to producer prices - have come in below expectations. Meanwhile, private demand growth and job creation remain healthy,' White House spokesperson Kush Desai said. 'Through tariffs and more balanced trade deals, rapid deregulation, and massive tax cuts, the Administration remains committed to further reducing the cost of living,' Desai added. Narrow margins Walmart's CEO Doug McMillon on Thursday said the retailer would not be able to absorb all the tariff costs because of narrow retail margins, but was committed to ensuring that tariff-related costs on general merchandise - which primarily come from China - do not drive food prices higher. To mitigate the impact, Walmart is working with suppliers to substitute tariff-affected components, such as replacing aluminum with fiberglass, which is not subject to tariffs. Despite these efforts, McMillon noted that adjusting costs is more challenging in cases where Walmart imports food items like bananas, avocados, coffee, and roses from countries such as Costa Rica, Peru, and Colombia. Analysts said Walmart was better positioned than rivals as its scale enables it to lean on its suppliers and squeeze out efficiencies to shield customers from tariffs, but only so much. 'There will likely be some demand destruction from tariffs, a complete wreck is unlikely,' said Brian Jacobsen, chief economist at Annex Wealth Management. The retailer reported quarterly adjusted profit of 61 cents per share. Analysts, on average, were expecting 58 cents per share. The company on Thursday kept its annual sales and profit forecast intact for fiscal 2026. It continues to expect adjusted earnings per share for the fiscal year ending January 2026 in the range of US$2.50 to US$2.60 and annual sales to rise between 3 per cent and 4 per cent. Withheld EPS forecasts Same-store sales in the first quarter grew by 4.5 per cent. Analysts were expecting a 3.9 per cent increase in US same-store sales, according to LSEG. US e-commerce sales rose 21 per cent, while globally they rose 22 per cent. This was the first time Walmart's eCommerce business achieved a full quarter of profitability, benefiting from higher-margin businesses, including online advertising and its marketplace, the company said. The retailer expects second-quarter consolidated net sales between 3.5 per cent and 4.5 per cent, compared to expectations of 3.46 per cent growth. At the same time, however, it withheld second-quarter operating income growth and earnings per share forecasts citing a 'fluid operating environment... (which) makes the very near term exceedingly difficult to forecast at the level and speed at which tariffs could go up.' REUTERS
Yahoo
03-04-2025
- Business
- Yahoo
Factbox-Walmart, Best Buy, Nike's major supply hubs in Asia
By Juveria Tabassum (Reuters) - President Donald Trump's move to impose sweeping tariffs on U.S. imports could force major retailers to raise prices on products ranging from apparel and footwear to electronics as supply hubs Vietnam, Cambodia and Bangladesh reel from fresh levies. Here are some of the Asia suppliers for retailers. WALMART Walmart remains the biggest U.S. importer. About 60% of its imports, particularly items such as clothing, electronics and toys, are from China. In recent years, the retailer has diversified its supply chain to source from countries such as Vietnam, one of its top five suppliers, and India, reducing its exposure to China from 80% in 2018, according a Reuters report in November 2023. TARGET Country Exposure China About 50% of company's total suppliers India About 6% Indonesia 3% Cambodia 3% (As of August 2024) Source: Supplier list at Target's website NIKE Country Exposure China 18% footwear, 16% apparel Vietnam 50% footwear, 28% apparel Indonesia 27% footwear Cambodia 15% apparel (As of May 31, 2024) Source: Annual filing LULULEMON ATHLETICA Country Exposure Vietnam 42% of all products Indonesia 10% products Cambodia 16% products Sri Lanka 12% fabrics, 11% products China 26% fabrics Taiwan 40% fabrics Bangladesh 8% products (As of 2023) Source: Annual filing ADIDAS Country Exposure Vietnam 27% of Adidas' total volume Indonesia 19% China 16% (As of 2024) Source: Annual filing PUMA The German sportswear group said in its 2024 annual report that its business model relies on outsourced manufacturing from six Asian countries including China, Vietnam, Cambodia, Bangladesh, Indonesia and India. These countries together accounted for 91% of total production volume in 2024, down from 94% in 2023, the company told Reuters. Country Exposure China 28% of Puma's total production volume Vietnam 26% Cambodia 16% Bangladesh 11% Indonesia 6% India 4% (As of 2024) Source: Company statement to Reuters ABERCROMBIE & FITCH: Country Exposure Vietnam 34% of company's total merchandise receipts Cambodia 19% India 12% China 9% (As of fiscal 2023) Source: Annual filing GAP Country Exposure Vietnam 29% of fiscal 2023 purchases by dollar value Indonesia 18% China less than 10% products sourced in 2024 (As of fiscal 2023) Source: Annual filing LEVI STRAUSS While 23% of Levi's total apparel suppliers are in China, less than 1% of products sold in the U.S. are directly sourced from China, the company said in an annual filing. Country Exposure Vietnam 9% of company's total apparel suppliers Bangladesh 7% India 16% China 23% Source: Supplier map on Levi's website BEST BUY About 60% of Best Buy's total annual cost of goods sold are exposed to China, according to a recent note from Morgan Stanley. China and Mexico are the two lead sources for the company's products, with about 2% to 3% of its overall assortment directly imported from the countries, the company said on a post-earnings call in March. Source: Company filings, analysts' notes, earnings calls Sign in to access your portfolio
Reuters
03-04-2025
- Business
- Reuters
Walmart, Best Buy, Nike's major supply hubs in Asia
April 3 (Reuters) - President Donald Trump's move to impose sweeping tariffs on U.S. imports could force major retailers to raise prices on products ranging from apparel and footwear to electronics as supply hubs Vietnam, Cambodia and Bangladesh reel from fresh levies. Here are some of the Asia suppliers for retailers. WALMART (WMT.N), opens new tab Walmart remains the biggest U.S. importer. About 60% of its imports, particularly items such as clothing, electronics and toys, are from China. In recent years, the retailer has diversified its supply chain to source from countries such as Vietnam, one of its top five suppliers, and India, reducing its exposure to China from 80% in 2018, according a Reuters report in November 2023. TARGET (TGT.N), opens new tab (As of August 2024) Source: Supplier list at Target's website, opens new tab NIKE (NKE.N), opens new tab (As of May 31, 2024) Source: Annual filing, opens new tab LULULEMON ATHLETICA (LULU.O), opens new tab (As of 2023) Source: Annual filing, opens new tab ADIDAS ( opens new tab (As of 2024) Source: Annual filing, opens new tab PUMA ( opens new tab The German sportswear group said in its 2024 annual report, opens new tab that its business model relies on outsourced manufacturing from six Asian countries including China, Vietnam, Cambodia, Bangladesh, Indonesia and India. These countries together accounted for 91% of total production volume in 2024, down from 94% in 2023, the company told Reuters. (As of 2024) Source: Company statement to Reuters ABERCROMBIE & FITCH (ANF.N), opens new tab: (As of fiscal 2023) Source: Annual filing, opens new tab GAP (GAP.N), opens new tab (As of fiscal 2023) Source: Annual filing, opens new tab LEVI STRAUSS (LEVI.N), opens new tab While 23% of Levi's total apparel suppliers are in China, less than 1% of products sold in the U.S. are directly sourced from China, the company said in an annual filing, opens new tab. Source: Supplier map on Levi's website, opens new tab BEST BUY (BBY.N), opens new tab About 60% of Best Buy's total annual cost of goods sold are exposed to China, according to a recent note from Morgan Stanley. China and Mexico are the two lead sources for the company's products, with about 2% to 3% of its overall assortment directly imported from the countries, the company said on a post-earnings call in March. Source: Company filings, analysts' notes, earnings calls
