Walmart is expanding drone delivery across the states of Arizona, Arkansas, Florida, Texas, Utah, and Virginia this year, potentially enabling it to reach 4 million U.S. households, the company announced on May 24. In a blog post announcing the expansion with operator DroneUp, the retailer said it is expanding its delivery network to 34 sites by the end of…
Walmart Expanding Drone-Delivery Service to 6 US States, Reaching 4 Million Households
Major Retailers Sound Inflation Alarm as High Prices Hit Profits
A number of major retailers missed Wall Street expectations this week by wide margins while the vast majority of the nearly 150 U.S. retailers that have reported first-quarter earnings so far explicitly mentioned inflation, as surging prices squeezed bottom lines. Refinitiv data showed that, of the 145 retailers that have reported first-quarter earnings so far,…
‘The Execution Here Is So Poor That It’s Embarrassing’: Why Jim Cramer Says Walmart Should Do Some Soul-Searching
Walmart Inc’s worse-than-expected earnings results left Jim Cramer stunned Tuesday morning. What Happened Walmart said first-quarter revenue increased 2.4 percent year-over-year to $141.6 billion, which beat the $138.88-billion estimate, according to data from Benzinga Pro. The company reported quarterly adjusted earnings of $1.30 per share, which missed the estimate of $1.48 per share. Walmart also slashed its second-quarter…
Walmart Profit Falls Short, Cuts Outlook, Hit by Higher Fuel and Labor Costs
Walmart Inc. reported a 25 percent drop in quarterly earnings and cut its full-year profit outlook on Tuesday as rising costs of fuel and labor hurt its bottom line while shoppers squeezed by decades-high inflation moved to buy lower-margin basics. Shares of the retailer fell nearly 10 percent in morning trading, its biggest one day…
US Companies Load Up on Costly Inventories as New Supply Snarls Loom in China
Through most of the pandemic, Kent International Inc. couldn’t import enough Chinese-made bicycles to supply Walmart Inc. and its other big U.S. retail customers. But in recent months, the New Jersey-based wholesaler and manufacturer built a nice buffer—about a 10-week supply at its three warehouses in California, South Carolina, and New Jersey, compared to the…
Walmart Offering New Truck Drivers Up to $110,000 a Year Starting Pay Amid Shortage
Walmart Inc. is offering new truck drivers up to $110,000 in their first year with the company, the retail chain announced on April 7. The announcement comes amid a nationwide trucking shortage that has been further exacerbated by the COVID-19 pandemic and job losses as drivers look for alternative employment offering better pay, benefits, and working conditions….
Walmart Offers Supply-Chain Workers a Chance to Drive Trucks
NEW YORK—Walmart workers who once unloaded trucks now have a chance to drive them. The nation’s largest retailer has launched a training program that gives employees who work in its distribution or fulfillment centers a chance to become certified Walmart truck drivers through a 12-week program taught by the company’s established drivers. Walmart, based in…
Missing 18-Year-Old Woman Abducted From Walmart Parking Lot Found Dead
Nevada authorities have recovered the body of 18-year-old Naomi Christine Irion on Wednesday after she was abducted from a Walmart parking lot more than two weeks ago, local police said. Irion was last seen in the Walmart parking lot in the city of Fernley in Lyon County, Nevada, on March 12 at approximately 5 a.m. Fernley is approximately…
Walmart to Discontinue Tobacco Sales in Select US Stores
Walmart will stop selling cigarettes across select stores in the United States, the retail giant confirmed on Monday, citing a “business decision.” “We are always looking at ways to meet our customers’ needs while still operating an efficient business,” Walmart said in a statement to the Wall Street Journal. “As a result of our ongoing focus on…
Walmart to End Cigarette Sales in Some Stores
March 29, 2022
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NEW YORK—Walmart will no longer sell cigarettes in some of its stores though tobacco sales can be a significant revenue generator. Wall Street Journal was the first to report the development Monday. It noted some stores in California, Florida, Arkansas, and New Mexico were on the list, citing anonymous sources and store visits. Walmart is…
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