Mon, Jun. 20, 7:05 AM| Mon, Jun. 20, 7:05 AM | 5 Comments
Fri, Jun. 17, 12:30 PM
Thu, Jun. 16, 12:47 PM
- Wal-Mart (WMT +0.4%) backed its previous target to add $45B to $65B in sales over the next three years during a presentation by management in South Africa.
- Though the retail giant doesn't grow fast enough for some investors, if Wal-Mart hits the high end of its 3-year target the incremental gain would be more than Lowe's, Rite Aid, or Best Buy all made last year.
Wed, Jun. 15, 12:30 PM| Wed, Jun. 15, 12:30 PM | 48 Comments
Wed, Jun. 15, 7:19 AM
- The long-time symbiotic relationship between Wal-Mart (NYSE:WMT) and Procter & Gamble (NYSE:PG) has become more strained in recent years as both companies look for new ways to drive sales growth.
- P&G's war room just outside of Wal-Mart's headquarters has been busier as it continues to push for preferential treatment for its key brands sold at Wal-Mart. The retail giant is walking a tightrope between offering consumers the most competitive prices and keeping its long-time supplier placated.
- Wal-Mart sells about $10.8B worth of P&G products in a year.
Wed, Jun. 15, 1:26 AM
- Amarillo SWAT officers have shot and killed a man who took his manager and another person hostage inside a Wal-Mart (NYSE:WMT) Tuesday afternoon.
- "As soon as we heard about the situation... we acted immediately," said company spokeswoman Deisha Barnett.
- Police identified the suspect as 54-year-old Mohammad Moghaddam, who was apparently upset about getting passed over for a promotion.
Mon, Jun. 13, 7:38 AM
- Wal-Mart (NYSE:WMT) names Sean Clarke to be the new CEO of Asda. Clarke is currently in charge of the company's China business.
- The exec worked previously at Asda before bouncing around the globe for Wal-Mart with stints in Canada, Germany, Japan, and finally China.
- The executive change arrives with Asda facing increasing pricing pressure from other U.K. grocery retailers and online threats. Asda's same-store sales fell 5.7% in Q1.
Fri, Jun. 10, 6:15 PM
- Wal-Mart (NYSE:WMT) says it will stop accepting Visa (NYSE:V) cards in Canadian stores after failing to agree on terms with the credit card company.
- The move is the latest in a years-long battle between the two companies over fees and the right to steer customers to certain types of payments.
- Visa is the largest payments network in Canada, with 50.6M cards in circulation and $232.6B worth of transactions last year.
- WMT, which has 405 stores in Canada, says it will continue to accept MasterCard (NYSE:MA), American Express (NYSE:AXP), Discover (NYSE:DFS) and other cards.
Fri, Jun. 10, 11:29 AM
- Back-to-school sales will increase 2.8% Y/Y to $828.81B, according to a forecast from eMarketer.
- The once thriving July through August BTS season is now more spread out as more parents wait until the school year starts before jumping in.
- The increased role in e-commerce has as lot to do with that trend. E-commerce BTS sales are seen rising 15% this year.
- Amazon (NASDAQ:AMZN) and Staples (NASDAQ:SPLS) have benefited from the e-commerce push, while department stores such as J.C. Penney (NYSE:JCP) and Sears (NASDAQ:SHLD) have suffered as the concept of clothes stockpiling ahead of the opening day bell has been dismissed by the younger generation. Target (NYSE:TGT) and Wal-Mart (NYSE:WMT) grab a lion's share of the in-store BTS traffic.
Wed, Jun. 8, 9:56 AM
- A profile on Wal-Mart (WMT -0.1%) posted on Quartz adds a little context on just how big the Bentonville company has now become.
- Wal-Mart's revenue haul of $482B last year was more than Amazon, Apple, and Microsoft combined.
- The number of weekly shoppers at a Wal-Mart store is up to 260M.
- Wal-Mart is also the world's third largest employer, trailing only the U.S. Department of Defense and China's People's Liberation Army.
- Despite the gargantuan size of Wal-Mart, analysts and investors see a rational approach from management. Earlier this week, Jefferies said the pace of international store growth and pruning of square footage in the U.S. will help profitability. That view was issued after Wal-Mart casually said it aims to add $60B in sales over the next three years.
- Only four analysts out of 31 rate Wal-Mart at Sell/Underweight.
Mon, Jun. 6, 10:42 AM
- Jefferies upgrades Wal-Mart (WMT +0.3%) after channel checks and a consumer survey point to improving trends for the retailer.
- Wal-Mart is seen improving online grocery market share and gaining some benefits from its aggressive pricing actions. Jefferies also forecasts an upward EPS revision cycle for the Arkansas-based company.
- Shares of WMT reached a 2016 high of $71.55 earlier today.
Mon, Jun. 6, 7:31 AM
- New COO appointee Roger Burnley is on deck to the next CEO at supermarket chain Asda.
- Current CEO Andy Clarke confirmed the succession plan in an interview with Retail Week. Burnley is scheduled to begin at Asda this fall.
- Asda is an extended sales slump, including a 6% drop in sales both last month and during the key Christmas holiday season.
- Asda is a subsidiary of Wal-Mart (NYSE:WMT).
Fri, Jun. 3, 3:07 PM
- Wal-Mart's (NYSE:WMT) annual meeting went off without a hitch today in Arkansas.
- Management highlighted the new tech initiatives that are revving up at the company and painted a bright picture on the future.
- "We're connecting all the parts of Wal-Mart into one seamless shopping experience with great stores, easy pickup, fast delivery and apps and websites that are simple to use," said CEO Doug McMillon.
- Wal-Mart aims to add $60B in new revenue growth over the next three years. Some growth is needed to help pay for the retailer's higher labor costs and e-commerce investments (last year WMT sales were $486B).
- At the rah-rah meeting, shareholders approved a new makeup of the board which will see Walton descendants hold three of the 12 positions.
Fri, Jun. 3, 8:40 AM
- The Wal-Mart (NYSE:WMT) annual meeting of shareholders is today on the campus of the University of Arkansas. The company is known for its highly-engaging gatherings with surprise celebrity guests and musical performances.
- This year's meeting is expected to have a sharp focus on digital channels and new technology which may help to cut costs. Drones, automated distribution center technology, grocery delivery, shipping subscriber services, and curbside pickup programs are just some of the next-gen initiatives at the retail giant. What won't be said is that Wal-Mart may be able to reduce its labor force through the automation programs.
- The early part of the meeting will be resemble a pep rally, although analysts and investors get a crack at CEO Doug McMillon with Q&A scheduled for about 12:00 EDT. Some retailers have reported a pickup of consumer spending over the last two weeks which Wal-Mart is in a prime position to confirm or reject.
- Shares of Wal-Mart are -4.5% since the 2015 annual meeting vs. -0.2% for the S&P 500 and -12% for the broad-based S&P Retail ETF.
Fri, Jun. 3, 4:58 AM
- Wal-Mart (NYSE:WMT) will soon begin testing a grocery-delivery service using Uber (Private:UBER) and Lyft (Private:LYFT) drivers as it looks to better compete with rivals like Amazon.
- According to a company blog post, Wal-Mart is expected to launch the effort in the next two weeks in Denver and another market, charging customers a $7 to $10 charge for the service.
Thu, Jun. 2, 3:31 PM
- Wal-Mart (WMT +0.5%) is only six to nine months away from using drones for different business functions such as inventory management, according to top execs.
- The company is running advanced tests on drones that can alerts users to low inventory levels and items stocked incorrectly.
- The use of drones at large distribution centers and corporate campuses is seen as more practical than mobilizing a drone army for actual deliveries to customers.
Wal-Mart Stores, Inc. operates retail stores in various formats around the world. The company operates its business through three reportable segments: Walmart U.S., Walmart International and Sam's Club. The Walmart U.S. segment includes the company's mass merchant concept in the U.S., operating... More
Industry: Discount, Variety Stores
Country: United States
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