Walmart Inc. said on Monday longtime executive Brett Biggs will step down from his role as chief financial officer of the world’s largest retailer next year. Biggs, the finance chief since 2015, helped oversee a period of rapid change at Walmart as the brick-and-mortar retailer launched and expanded a number of initiatives to help fend…
CVS, Walgreens, Walmart Contributed to Opioid Crisis, Ohio Jury Finds
Three of the nation’s largest chain pharmacies, CVS, Walgreens, and Walmart, contributed to an opioid crisis in two Ohio counties, a federal jury found on Tuesday. The three pharmacy chains sold and dispensed large quantities of the pain pills in Lake and Trumbull counties, and in doing so, helped fuel an opioid crisis, the jury…
Walmart Analysts Break Down Q3 Earnings: ‘Well-Positioned to Gain Market Share’
Walmart Inc. reported better-than-expected earnings on Tuesday and said it’s well-positioned for the holiday shopping season despite supply chain disruptions. Walmart reported third-quarter adjusted earnings per share (EPS) of $1.45 on revenue of $140.53 billion. Both numbers topped consensus analyst estimates of $1.40 and $135.6 billion. Revenue was up 4 percent from a year ago….
Business Chart of the Day: Where Will the Walmart Sell-Off End?
There’s an old saying on Wall Street that “gaps refill.” If it’s true, there’s a good chance that the sell-off in Walmart Inc. is about to end. Between the close on Oct. 18 and the open on Oct. 19, shares gapped up from $141.68 to $144.63. This shows up as a blank space (or a gap) on a chart. After a…
NTD Business Full Broadcast (Nov. 16)
A strong retail sales report – new government data out today says retail sales surged in October, as American consumers spend more buying products. Walmart and Home Depot report strong quarters, despite supply chain issues and labor shortages. What helped them beat expectations? And one of the biggest pension funds in America is adopting a riskier strategy. Otherwise it…
Walmart Raises Full-Year Sales, Profit Forecasts as Holidays Start Strong
November 16, 2021
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Walmart Inc. on Tuesday raised its annual sales and profit forecast in anticipation of a surge in demand for toys and apparel during the crucial holiday season, even as global supply chain disruptions hit its margins in the third quarter. Shares of the world’s largest retailer were flat in pre-market trading, reversing earlier gains of…
Pharmacy Chains Defend Actions as Landmark Opioid Trial Nears Its End
November 16, 2021
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CLEVELAND—Lawyers for pharmacy chains including CVS and Walgreens on Monday argued they were not to blame for the opioid epidemic, as jurors prepared to consider whether to hold them responsible for the devastation the drug crisis caused in two Ohio counties. Mark Lanier, a lawyer for Lake and Trumbull counties, told a federal jury in…
NTD Business Full Broadcast (Nov. 8)
Prices are record high—and Americans aren’t expecting them to drop any time soon. Inflation expectations are at an eight-year-high. Tesla stock is down. CEO Elon Musk is indicating he might sell 10 percent of his shares after asking his Twitter followers if it’s a good idea. Walmart is using fully driverless trucks to ramp up…
Kroger Dismisses Bitcoin Partnership, Claims ‘Fraudulent’ Communication
Kroger, the largest supermarket chain in the United States and the second biggest retailer after Walmart, recently set aside a rumor that the store would be accepting Bitcoin Cash as a form of payment. The rumor was based on a press release on Kroger’s website, which said the grocer would be accepting Bitcoin Cash. Derived…
Tastykakes Taken Off Shelves Following Discovery of Wire Contaminants
Flower Foods Inc. announced Wednesday that it was amending an earlier recall notice for Tastykake multi-pack cupcakes to include certain Krimpets products as well due to the potential presence of tiny fragments of metal mesh wire. The company has done this as a precautionary measure “following notification by a vendor of the possible contamination in…
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