Wal Mart news and archive

Walmart reports strong Q3, ups FY25 outlook

Consolidated third quarter revenue at Walmart of 169.6 billion dollars, increased by 5.5 percent or 6.2 percent on constant currency basis. Raising its outlook for FY25, the company said net sales to reach 642.6 billion dollars, adjusted operating income at 27.1 billion dollars and adjusted EPS of 2.22 dollars. We had a strong quarter,...

Report

Wal-Mart acquires logistics start-up Parcel to up its same-day delivery game

Wal-Mart Stores Inc (WMT.N) announced on Tuesday that it has acquired Parcel Inc, a New York-based last-mile delivery startup, as the retailer seeks to improve its same-day delivery offering and gain a competitive edge against Amazon.com Inc (AMZN.O). "We plan to leverage Parcel for last mile delivery to customers in New York City – including...

Business

Wal-Mart's online sales rise

As Wal-Mart tries to ensure it can keep competing with Amazon, the good news for the retailer is their online sales have risen. Their gross merchandise volume rose 69 percent in the first quarter of 2017. Total revenue climbed to 117.5 billion dollars. The recent acquisition of Jet.com Inc. proved to be very fruitful for the company. “All of a...

BusinessFeatured

Wal-Mart eliminates corporate jobs

Zacks has reported that Wal-Mart Stores Inc. is laying off a number of employees this month in its international and technology businesses and at Sam's Club Warehouse chain. According to The Wall Street Journal, the move is part of Wal-Mart's plan to lower expenses, owing to rising costs. The company has been seeing increased costs due to...

Management|ANALYSIS Featured

Pressure mounts for Wal-Mart to deliver online as retail sales stale

The world's largest retailer is feeling the hot as the market takes its demands up a notch and expects the retail giant to show how its decision to shift its capital expenditures toward digital and store remodels is paying off for investors. At its annual investor day in Arkansas, Wal-Mart said on Thursday it would open fewer stores in the US...

RetailFeatured

Primark offers better value than US competitors

Fast fashion just got faster as a new survey cites US retailers are priced over 200 percent more premium in comparison to Associated British Foods owned Primark. Research compiled by Morgan Stanley showed comparatively higher prices charged by American retail groups are proving tough competition, especially to US teen retailers. “Primark’s low...

Retail

Wal-Mart could soon be using drones

Wal-Mart, the world's largest retail chain, could be using drones as soon as the end of this year, the company said Thursday. It also said it is testing artificial intelligence and virtual reality tech without adding further details. In order to better compete with rivals, the retail giant said it is six-to-nine-months away from introducing...

People

Wal-mart to revamp its board

The world's second largest retailer, Wal-mart, is to revamp its board. Smaller in turnover only to Chinese retail giant Alibaba, Wal-mart will see Jim Walton, the son of the company's founder Sam Walton, retire. Wal-Mart is using the opportunity to bring its board structure closer to norms for US corporations and would be able to respond more...

Retail

Wal-Mart to cut hundreds of jobs

Wal-Mart Stores is planning to lay off hundreds of headquarter staff as part of the discount retail giant’s efforts to cut costs, the Wall Street Journal noted. Fewer than 500 employees are expected to lose their jobs and an announcement could be made as early as Friday, according to an un-named source. So far Wal-Mart has declined to comment....

Apparel

Gap becomes the target of an internet hoax

Gap Inc. has become the target of an elaborate online hoax, carried out by online activist group 18MillionRising.org, which claimed that Gap had signed the Accord on Fire and Building Safety in Bangladesh and intended to pay out 200,000 dollars in compensation. During the Gap Inc. shareholder meeting in San Francisco earlier this week, the...

Apparel

Tesco’s India plans on hold

Tesco, the world’s third largest retailer, has decided to adopt a wait and watch policy to enter the Indian market. As of now, it has decided to focus its exisiting franchise arrangement with Tata’s Trent. According to the arrangement, Tesco provides back-end support to Star Bazaar hypermarkets run by Trent, in terms of inventory and supply...