In this file:
∑ Sam's Club closing dozens of stores
∑ Walmart Raising the Prices Online for Certain Food
∑ Wal-Mart Stores Inc Stock Is on the Comeback Trail
∑ Costco Stock Surges as Walmart Confirms Sam's Club Closings
∑ Walmart says itís raising wages thanks to the GOP tax plan
∑ Walmart clouds pay rise by closing Sam Club's stores
Sam's Club closing dozens of stores
Charisse Jones, USA TODAY
Jan. 11, 2018
Sam's Club, the membership warehouse owned by retail giant Walmart, is shutting down or converting 63 stores, a Walmart official confirmed Thursday.
Of those locations, about 50 will be going out of business for good. Roughly 10 of those locations are closing their doors as soon as Thursday, while the remainder will be shuttered over the next three to four weeks, the Walmart official said.
Additionally, about 10 to 12 Sam's Club stores are slated to be closed temporarily as the retailer converts them to regional distributional centers to help ramp up its ability to fulfill online purchases. While those stores will reopen in a new role, workers previously employed at those locations are not necessarily guaranteed one of the new positions.
In a note, Sam's Club president and CEO John Furner said that a review found stores that were hindering business at other locations, or operating in areas that had not seen the population growth that was expected.
"Weíve decided to right-size our fleet and better align our locations with our strategy,'' he wrote. "We will be closing some clubs, and we notified them today. Weíll convert some of them into eCommerce fulfillment centers - to better serve the growing number of members shopping with us online and continue scaling the SamsClub.com business.''
News of the closures began to slowly trickle out Thursday. Notices filed with the Indiana Department of Workforce Development revealed...
... Though Walmart reported that Sam's Club's sales rose 4.4% in the most recently completed quarter, Furner says that the store closures will free up resources...
Walmart Raising the Prices Online for Certain Food
Supriya Bhosale, Talk Investor
January 12, 2018
The retail giant is reportedly raising the prices online. Itís basic rights falling prices except online. The Wall Street Journal reports Wal-Mart has been boosting prices for some food and household items online. As it tries to drive foot traffic at its stores.
An online retailer in China Region meanwhile also a record for Sales. Saturday was countries unofficial retail holiday like Black Friday Alibaba raked in 25 billion dollars in just 24 hours for comparison on black Friday. Last year sales for online retailers in the United States Work combined 3.3 billion dollars now...
Wal-Mart Stores Inc Stock Is on the Comeback Trail
WMT stock has some tailwinds, but a long way to go
By Lawrence Meyers, InvestorPlace
Jan 11, 2018
Meyers is the CEO of PDL Capital. He does not own any stock mentioned.
Until Amazon.com, Inc. (NASDAQ:AMZN) rolled into town, Wal-Mart Stores Inc. (NYSE:WMT) was the undisputed king of retail. Amidst competition from both Amazon and other department stores, Walmart stock and profits have fallen significantly in recent years. However, it seems that WMT stock may be on the comeback trail.
Same-Store Stats Are Trending Upward
When last quarterís results came out, the market appeared shocked and pleased. Of particular interest to me was that same-store comps were up by 2.7%, which is a perfectly reasonable rate for any retailer. That it was managed by this legacy retailer that is older than most people reading this article is even more impressive.
However, that was the tip of the iceberg. E-commerce sales rose 50%. While Iím annoyed that Walmart management refuses to break out how much that meant in actual revenue, it tells me the purchase of Jet.com has paid off. If you havenít shopped at Jet.com, give it a shot. I have found a good number of items there that are competitive with Amazonís prices and can result in free shipping if I buy enough.
Food for Thought
Another interesting development has been the extent to which Walmart stock has benefited from food items. With comps that broke 6-year records for WMT in that division, we see that shoppers are just fine with combining their purchases with food purchases from a store not formally known for that. Ironically, it helps to partially explain why Whole Foods may have experienced lagging sales. Shoppers donít care about brand. Organic is organic.
Automation Driving WMT Stock ...
Bottom Line on WMT Stock ...
Costco Stock Surges as Walmart Confirms Sam's Club Closings
63 Sam's Club locations will close.
ByCathaleen Chen, TheStreet
Jan 11, 2018
Costco Wholesale Corporation (COST - Get Report) stock rose more than 2% on Thursday, Jan. 11, after Wal-Mart Stores Inc. (WMT - Get Report) said it would close 63 Sam's Club stores across the country.
Walmart told Business Insider about the closings after multiple local reports emerged Thursday. Sam's Club said on Twitter that it decided to "close a series of clubs and better align our locations with our strategy." The parent company hasn't made a formal announcement.
In a letter to employees, Sam's Club CEO John Furner cited geographical cannibalization as the reason for the closures. "After a thorough review, it became clear we had built clubs in some locations that impacted other clubs, and where population had not grown as anticipated," he said in an email obtained by Business Insider.
Up to 11,000 employees would be affected by the closures, Business Insider calculated, though 10 of the closing stores will be turned into e-commerce distribution centers.
The closing Sam's Clubs make up about 10% of its total number of stores, which may surprise some investors considering the warehouse discounter's consistent growth. In both the third and second quarters, Sam's Club reported comp sales on par with that of Walmart, 2.8% and 1.2%, respectively, compared with Walmart's 2.7% and 1.8%...
Walmart says itís raising wages thanks to the GOP tax plan
Thatís probably not the full story, and the benefits only go so far.
By Jen Kirbyjen, Vox
Jan 11, 2018
Walmart employees are getting a pay bump, and the company says itís courtesy of the corporate tax cut Republicans rushed through Congress last year. Thatís good P.R. ó but probably only part of the story.
The retail giant announced Thursday that it is raising the minimum wage for hourly associates to $11, and handing out bonuses of up to $1,000 to employees. The company also said it would introduce more generous paid family leave policies, and offer an adoption benefit.
Walmart credits the Republican tax plan for its decision to hike wages and offer bonuses. ďWe are early in the stages of assessing the opportunities tax reform creates for us to invest in our customers and associates and to further strengthen our business, all of which should benefit our shareholders,Ē Walmart CEO and president Doug McMillon said in a statement, which cited lower prices for customers and better wages as among the companyís goals.
Walmart isnít the first company to shower a nice public thank you on the GOP tax plan. Boeing, AT&T, Wells Fargo, and Comcast have all said they were either investing more in the US or offering perks to employees, from bonuses to minimum wage boosts to other investments in employee development. Capital One announced Thursday itís increasing its minimum hourly wage to $15...
Walmart clouds pay rise by closing Sam Club's stores
11 January 2018
Walmart has revealed plans to close 10% of its Sam's Club wholesale stores and lay-off thousands of workers.
The closures were revealed on the same day the world's biggest retailer said it would start paying its US staff at least $11 an hour and hand some of them a one-off cash bonus.
Walmart said the pay rise was due to the US tax overhaul which has cut the corporate rate from 35% to a flat 21%.
Hourly-paid employees will receive the higher wage from next month.
Walmart is closing 63 of its 660 Sam's Club stores.
US Treasury Secretary Steven Mnuchin claimed that Walmart's pay deal was further proof that the new US tax bill is returning money to workers as the administration promised.
However, at a press conference on Thursday, Mr Mnuchin dismissed questions about the layoffs.
"Lots of things are going on in the economy," he said. "We appreciate what Walmart's doing."
Senate Democrats, who opposed the tax changes, said the store closures are a reminder that lower corporate tax bills will primarily benefit "wealthy shareholders, leaving thousands of workers standing in the cold without jobs."
'Portfolio review' ...
Pay deal ...