NEW YORK—The Dow and S&P 500 rose on Tuesday as stronger-than-expected results and outlooks from Walmart and Home Depot bolstered views on the health of consumers, while technology shares declined and weighed on the Nasdaq. The S&P 500 consumer discretionary and staples sectors gave the benchmark index its biggest lift, while the S&P 500 retail…
Dow, S&P 500 Climb as Upbeat Results From Walmart, Others Boost Optimism
Walmart Laying Off Corporate Employees in Sign of Slowing Job Market
Retail giant Walmart announced corporate layoffs this week, suggesting that the labor market could be slowing down as fears of a recession mount. “We’re updating our structure and evolving select roles to provide clarity and better position the company for a strong future,” a company spokesperson told FOX Business in a statement. The retailer noted, however, that…
Walmart Selling Refurbished Products to Inflation-Weary Shoppers as Recession Looms
August 1, 2022
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Business & MarketsCompaniesdisposable incomeeconomyhigh inflationinflationrefurbishedUSUS NewsWalmart
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Retail giant Walmart announced a new program created to help customers discover refurbished products at “everyday low prices.” As people look for ways to save money, “like-new” refurbished items have become a popular way to reduce costs without compromising on quality, Walmart said in a July 29 news release. Walmart already works with sellers and…
Analysis: Amazon Has a Prime Edge Over Walmart: Richer Customers
NEW YORK—Amazon Inc.’s strong quarterly performance on Thursday offered another sign of a split in shopping patterns between more- and less-affluent Americans dealing with the highest inflation in four decades. On Monday, rival Walmart Inc., which caters to a more cost-conscious customer, slashed its second-quarter profit forecast, blaming a shift in consumer spending towards more…
US to Sell 20M More Barrels of Reserve Oil; Senate Advances Chips Bill | NTD Business
Retail king Walmart slashes its profit projections, substantially. What does this tell us about a potential recession? Is the CHIPS Act a home run for Congress? One expert says it’s a strikeout. The European Union puts together an emergency plan to tackle the gas crisis. Klondike says goodbye to one of its ice cream treats after…
Walmart Slashes Profit Outlook as Inflation Changes How Customers Shop
Walmart Inc. has slashed its quarterly and full-year profit outlook, citing rising food and gas prices, which has prompted consumers to cut back on other items like clothing and electronics. The retailer said in a business update on July 25 that the revised outlook was “primarily due to pricing actions aimed to improve inventory levels…
5 Shot, Hurt in Washington State Walmart Amid Altercation
MOUNT VERNON, Wash.—A customer and an employee of a Walmart were shot and injured along with three young men who authorities said were involved in an altercation inside the store Sunday, police said. The Seattle Times reported police received calls about shots being fired inside the building shortly before 10 p.m. Sunday. Investigators believe the…
FTC Sues Walmart for Allegedly Allowing Fraudulent Money Transfers
June 29, 2022
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Business & MarketsCompaniesCrime and Incidentseconomyfraud scamFTC - U.S. Federal Trade Commissionmoney transferUSUS NewsWalmartWestern Union
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The Federal Trade Commission (FTC) announced Tuesday that it has sued Walmart for allegedly allowing its money transfer services to be used for fraud, enabling scammers to con people out of hundreds of millions of dollars. In the lawsuit (pdf), the retail giant is accused of turning a blind eye through failure to properly secure…
Texas Attorney General Launches Investigation Into Walmart’s Prescription Opioid Sales
Texas Attorney General Ken Paxton said on Tuesday said he is investigating retail giant Walmart over potential violations of the Texas Deceptive Trade Practices Act relating to its sales of prescription opioids. In a statement, the Republican said he has issued a Civil Investigative Demand (CID), or type of subpoena, to Walmart that will allow him to obtain information…
Pharmacies Limiting Purchases of Emergency Contraception Pills Amid Increased Demand
Retail giants CVS Health Corp. and Walmart Inc. have announced that they will be limiting the number of purchases of emergency contraceptive pills amid increased demand following the Supreme Court decision to overturn Roe v. Wade. Drugstore chain Rite Aid Corp. is also limiting purchases of the “Plan B One-Step” morning-after pill, which is typically taken within 72 hours after…
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