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The Hill
22-05-2025
- Business
- The Hill
Walmart slashing 1.5K corporate jobs
Retail giant Walmart is slashing around 1,500 corporate jobs after the company announced last week it plans to raise prices due to looming tariffs. 'We are reshaping some teams in our Global Tech and Walmart U.S. organizations where we have identified opportunities to remove layers and complexity, speed up decision-making, and help associates innovate rapidly,' two senior Walmart executives wrote in a Wednesday memo to associates, which was obtained by The Hill. 'We are eliminating roles as well as opening some new roles aligned with our business priorities and growth strategy, they added. Walmart's global chief technology officer and John Furner, the president and CEO of Walmart U.S., wrote in the memo that 'these changes are mainly focused on driving efficiency in the End-to-End Operations teams, ensuring we're serving them so they can best serve our customers.' 'We're also evolving the structure of our Walmart Connect marketing organization to position us for future success as we continue growing this business,' they said. The retail behemoth, which is headquartered in Bentonville, Ark, has around 1.6 million workers at 4,600 locations around the country. Walmart said last week that it would raise prices at stores due to the higher costs driven by President Trump's tariff agenda. 'We will do our best to keep our prices as low as possible, but given the magnitude of the tariffs, even at the reduced levels announced this week, we aren't able to absorb all the pressure given the reality of narrow retail margins,' Walmart CEO Doug McMillon said. Trump hammered Walmart over the weekend, urging the retail giant to 'eat the tariffs' and spare the consumers from the additional cost. 'Walmart should STOP trying to blame Tariffs as the reason for raising prices throughout the chain. Walmart made BILLIONS OF DOLLARS last year, far more than expected,' Trump wrote Saturday on Truth Social. ' 'Between Walmart and China they should, as is said, 'EAT THE TARIFFS,' and not charge valued customers ANYTHING,' the president added. 'I'll be watching, and so will your customers!!!'
Time of India
18-05-2025
- Business
- Time of India
Walmart's tariff troubles begin to bite but company posts first profitable quarter in e-commerce
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Inside the aisles of Walmart stores across the country, US shoppers are spending more per trip but not without concern. At the company's Bentonville, Arkansas headquarters, executives say the impact of rising tariffs is becoming harder to ignore, and consumers will likely start noticing higher prices amid the economic uncertainty, Walmart marked a major milestone: its first profitable quarter in e-commerce both in the US and globally, powered by higher-margin ventures like online advertising and its expanding third-party read: Donald Trump blasts Walmart over tariffs! Here's what US President tells retail giant with 255 million customers Walmart beat Wall Street's earnings expectations for the first quarter but fell slightly short on revenue, posting $165.61 billion compared to the expected $165.84 billion. Adjusted earnings per share came in at 61 cents, exceeding the 58 cents anticipated. However, net income dipped to $4.49 billion from $5.10 billion a year was the first time since February 2020 that Walmart missed quarterly revenue expectations, highlighting the unpredictable retail store sales rose 4.5 per cent at Walmart U.S. and 6.7 per cent at Sam's Club, excluding fuel. E-commerce sales soared 21 per cent in the US and 22 per cent globally, extending Walmart's streak of double-digit online growth to a twelfth consecutive Chief Financial Officer John David Rainey voiced concern about the burden of US tariffs, even with the Trump administration's 90-day move to ease duties on Chinese imports to 30 per cent. Rainey noted that the size of recent tariff increases is beyond what retailers or suppliers can read: Trump tells Walmart to 'eat the tariffs,' blames China for price hikes 'It's more than any supplier can absorb. And so I'm concerned that consumer is going to start seeing higher prices,' he told Doug McMillon added that tariffs on key categories such as toys, electronics, bananas, avocados and flowers are creating mounting cost pressures. For now, Walmart is choosing to absorb some of those costs, holding down prices on popular items like Mother's Day declined to provide earnings-per-share or operating income guidance for the second quarter, citing continued volatility in US trade company reported a 2.8 per cent increase in average ticket size and a 1.6 per cent rise in customer transactions year over year. However, Rainey described sales in the quarter as 'a little choppy.' February lagged expectations, March was more in line, and April rebounded. So far, May appears to be following April's stronger fears of inflation, Rainey said US consumers remain cautious but consistent: 'They're discerning. They're mindful... but their behaviors largely have not changed.'Also read: US' largest private employer to start hiking prices this month due to Trump's tariff Still, Walmart has begun reducing order volumes for products it expects will be impacted by tariff-related price increases , although it has not canceled any orders strategic investments in its digital ecosystem are beginning to pay off. The retail giant reported its first-ever profitable quarter for e-commerce operations, a major achievement driven by Walmart Connect, the company's fast-growing US advertising business, which saw a 31 per cent year-over-year increase in Walmart+ subscription service also continues to attract value-conscious and time-starved consumers, including middle- and upper-income households. The company's recent acquisition of Vizio is expected to further enhance its digital and retail earnings release kicks off a wave of quarterly reports from other major US retailers, including Target, Lowe's and Home Depot, all of which will likely provide more clues about how the American consumer is holding up under the weight of higher remains in a stronger position than many peers, due to its dominance in grocery and everyday essentials, which generate steady foot traffic and build brand of Walmart are up 7 per cent year to date, outperforming the broader S&P 500. The stock closed at $96.83 on Wednesday, May 14, giving the company a market value of about $775 billion.
Miami Herald
05-05-2025
- Business
- Miami Herald
Walmart opens first new Supercenter in 4 years
Dive Brief: Part of a larger multimillion-dollar modernization plan, Walmart opened its first ground-up Supercenter store in four years and its first under the "Store of the Future" model in the U.S., according to a Wednesday press new space - located in Cypress, Texas - features a full-service fuel station, an updated vision care center, storewide digital shelf labels and more. Additionally, the store caters to regional preferences with additions such as a Hispanic bakery section and a fresh tortilla retailer plans to open four additional Supercenters across the U.S. in 2025 and convert two existing stores into full Supercenters. Dive Insight: Walmart is going big on store innovation as it acts on its 2025 growth plans. "This store was built with the customer in mind," Walmart U.S. CEO John Furner said in a statement. "It's part of a larger transformation happening across our stores as we reimagine what shopping looks like for the future." The Cypress Supercenter offers the ability for customers to schedule TV mounting, update registries and book tire installation via the retailer's app. It also features "elevated departments in Fashion, Baby, Home and Pets," per the release, as well as a Dunkin'. At Walmart's investor day in April, Furner told attendees that the company plans to open a dozen more stores this year, adding to its existing fleet of about 4,600 locations across the U.S. Walmart isn't just growing its Supercenter footprint in the U.S., either. The retailer announced in April that it would also expand its Supercenter efforts in Mexico. Walmart of Mexico and Central America said it would invest $6 billion to open new stores under the Bodega Aurrera, Sam's Club, Walmart Supercenters and Walmart Express banners. While the retailer's physical footprint is a core component of its business, e-commerce is thriving for Walmart in the U.S. Online sales are anticipated to turn a profit this year and in Q1, e-commerce is already in the black, per executives during the investor day. At its stores across the country, grocery continues to be a main driver of its success. The business segment brought in $276 billion in net sales for its fiscal year 2025 and accounted for nearly 60% of the retailer's annual net sales of $462 billion. Copyright 2025 Industry Dive. All rights reserved.
Yahoo
22-03-2025
- Business
- Yahoo
Walmart is revamping its convenience stores and fuel stations
You can find original article here Supermarketnews. Subscribe to our free daily Supermarketnews newsletter. Walmart is investing in and revamping its convenience stores and fuel stations, the mass retailer said, announcing on Wednesday that it will open or remodel more than 45 locations across the United States this year. The company opened its 400th fuel station in Palm Springs, California, in December. It now operates more than 400 fuel stations and convenience stores nationwide. With the openings this year, the retailer will operate more than 450 locations in 34 states, it said. Walmart Fuel and Convenience stations offer fuel at competitive prices, and snacks and beverages are priced the same as inside the Walmart store. Walmart+ members save up to 10 cents per gallon with their membership. 'We're continuing to invest in our nationwide, physical store footprint. By adding dozens of fuel and convenience stations this year, we are bringing even more value to our customers,' said Dave DeSerio, vice president of fuel and convenience for Walmart U.S. 'Customers shop Walmart for our everyday low prices and convenience offerings, and fuel stations are another example of us responding to our customer and member needs.' In 2016, Walmart ended a 20-year relationship with El Dorado, Arkansas-based Murphy USA, which owned and operated c-stores adjacent to Walmart stores. Going forward, the big-box retailer would build and operate its own gas stations, it said. With fiscal year 2025 revenue of $681 billion, Bentonville, Arkansas-based Walmart Inc. operates more than 10,750 stores and e-commerce websites in 19 story was originally featured on CSP Daily News, a sister publication of Supermarket News. Sign in to access your portfolio
