WEATHER ALERT
Walmart attracts more shoppers seeking to cut spending in Q3, but muted expectations spook investors
Read full article: Walmart attracts more shoppers seeking to cut spending in Q3, but muted expectations spook investorsWalmart extended its streak of strong quarterly gains heading into the holiday season as its low-prices continue to attract shoppers looking for deals in a tough economic environment.
Walmart's hot sellers? Hand mixers and kitchen tools. In an era of high prices, basic is king
Read full article: Walmart's hot sellers? Hand mixers and kitchen tools. In an era of high prices, basic is kingWalmart is reporting strong second-quarter sales results as the retailer’s low-price model continues to attract budget-conscious consumers in a tough economic environment.
Walmart shines in rough retail environment, ratchets up outlook after strong first quarter
Read full article: Walmart shines in rough retail environment, ratchets up outlook after strong first quarterWalmart reported strong first-quarter sales results as the nation’s largest retailer’s low-prices continue to draw budget conscious consumers in a challenging economic environment of stubbornly high inflation.
Hot dogs vs deli meat; rising costs shape choices at Walmart
Read full article: Hot dogs vs deli meat; rising costs shape choices at WalmartWalmart reported better-than-expected second quarter results as more Americans looked to cut costs on groceries at the nation’s largest retailer in the face of surging inflation.
Walmart sales still strong as pandemic eases, stimulus helps
Read full article: Walmart sales still strong as pandemic eases, stimulus helpsWalmart raised its annual earnings forecast on Tuesday after delivering better-than-expected results in the first quarter that showed shoppers, flush with U.S. stimulus payments, splurged on clothing, as well as lawn and garden items.
Video app TikTok leans into e-commerce with Shopify deal
Read full article: Video app TikTok leans into e-commerce with Shopify dealThe popular short-form video app TikTok, still under U.S. government scrutiny for its Chinese ownership, is moving closer to becoming a marketplace for buying stuff. Canadian e-commerce platform Shopify said Tuesday it's made a deal with TikTok enabling merchants to create “shoppable” video ads that drive customers to online stores. The partnership was announced Tuesday amid stalled negotiations for Walmart to buy a 7.5% stake in the video app. Then, video ads will be automatically generated that could show up in a TikTok user’s video feed and drive customers to Shopify for checkout. Walmart and Shopify are on good terms, having teamed up against Amazon in June on a deal that enables Shopify’s small businesses to get listed on Walmart.com.
As you shop for the apocalypse, stores are paying a price
Read full article: As you shop for the apocalypse, stores are paying a priceAmericans grabbing groceries and fixing up their homes during the coronavirus pandemic have propped up top retailers' sales. That is costlier for them than if shoppers buy in stores because companies have to pay for logistics and delivery fees. To be sure, the higher sales retailers are experiencing as people stock up on groceries and other essential goods could help alleviate the pressure. This should drive continued sales growth and help leverage the higher costs." Target said Wednesday that sales at stores open for at least one year grew 10.8% during the quarter compared with the same period last year.
Walmart CEO says we’re in the ‘hair color’ phase of panic buying
Read full article: Walmart CEO says we’re in the ‘hair color’ phase of panic buyingNow hair clippers and hair dye are flying off shelves. "You can definitely see that as people have stayed home, their focus shifted," Walmart CEO Doug McMillon said on the Today Show, Friday. Now, sales are showing that — without the ability to venture to a hair salon — folks are getting shaggy. Panic buying begat even more panic buying, and the run on bathroom tissue sent ripple effects through the supply chain. Sales of hair clippers increased 166% and hair coloring products rose 23%, from the same period a year earlier, according to Nielsen.
Walmart wants to hire 150,000 temporary workers as the coronavirus pandemic continues
Read full article: Walmart wants to hire 150,000 temporary workers as the coronavirus pandemic continuesWalmart, the largest private employer in the United States, plans to hire 150,000 temporary workers by the end of May as the coronavirus pandemic continues to sweep through the country. The company said it is hiring the associates to work in stores, clubs, distribution centers and fulfillment centers. "These roles will be temporary at first, but many will convert to permanent roles over time," Walmart said in a press release. "We've reached out to industry groups representing restaurants and hospitality to facilitate temporary roles that can be a bridge for their employees during this difficult time." But the coronavirus is pushing the company to bring on new workers to help meet the crush of demand.