Walmart to Phase Out Semi-Automatic Weapons from Stores in Two Weeks

Walmart to Phase Out Semi-Automatic Weapons from Stores in Two Weeks

In view of the dip in sales, a Walmart spokesperson on Wednesday announced that its stores will stop selling AR-15 rifle and other semi-automatic weapons.

The stocks of these semi-automatic equipments were already limited to less than half of the company’s 4600 stores across the US. The company officials said that even these stocks will be taken off the shelves within two weeks.

Walmart’s spokesperson, Kory Lundberg, clarified that this decision was politically influenced and was taken a year ago. "It's similar to what we do with any product. Being what it is, it gets a little more attention, but it's the same process for any other product," Lundberg said.

Wal-Mart acquires remaining shares of Yihaodian

Wal-Mart acquires remaining shares of Yihaodian

According to reports, Wal-Mart Stores, Inc. has purchased the remaining shares in Yihaodian, which is an e-commerce business. With this, it has fully owned Chinese company, which has been growing rapidly. According to Wal-Mart Stores, the newly owned company would be run in the leadership of Wang Lu, who is president and CEO of Walmart Global eCommerce in Asia.

According to president and CEO of Walmart Global eCommerce, Neil Ashe, “Yihaodian has excelled as one of China's top e-commerce businesses”. She added that they are looking forward to gain from the team at Yihaodian and their local e-commerce experience.

Greg Penner to be new chairman of Wal-Mart stores

Greg Penner to be new chairman of Wal-Mart stores

Penner served as the board’s vice chairman previously. Now, he will take over from Rob Walton, who served as chairman of the board since 1992.

Wal-Mart has appointed Greg Penner as a new chairman. He will replace Rob Walton who served as chairman of the board since 1992.

Penner began his career at Goldman Sachs & Co. as an analyst specializing in corporate finance. He then joined Walmart as a management trainee and held a number of positions throughout the company.

He had been senior vice president of finance and strategy for and senior vice president and CFO–Japan. He has been a general partner of investment management firm Madrone Capital Partners since 2005.

Walmart on top of Fortune 500 list

Walmart on top of Fortune 500 list

According to Fortune, Wal-Mart Stores Inc. is on top of the Fortune 500 list for the third straight year, remaining the largest company in the country.

Revenue of Wal-Mart was $485.7 billion in its fiscal year, ending on January 31; it was over $100 billion ahead of number two, Exxon Mobil of Irving, Texas; the company had revenue of $382.6 billion last year.

Chevron, which is based in San Ramon, Calif., was at third position with $203.8 billion in revenue last year. Berkshire Hathaway of Omaha, Neb., Warren Buffet's conglomerate of companies, held fourth position with $194.7 billion in revenue. General Motors of Detroit was at fifth position with $155.9 billion in revenue.

Wal-Mart to Raise Minimum Wages of over 100,000 US Employees

Wal-Mart to Raise Minimum Wages of over 100,000 US Employees

There are chances that world's largest retailer Wal-Mart Stores could make its second wage hike this year. The largest private employer in the United States said that it will increase minimum wages of more than 100,000 US employees.

On Tuesday, the company announced that from July it will increase hourly wages for managers of service-oriented departments like electronics and auto care from $10.30-$20.09 to $13-$24.70.

Hourly wages of managers of departments like clothing and consumer products will increase from $9.90-$19.31 to $10.90-$20.71. Workers at specialized areas like the deli sections, workers will earn $9.90-$18.81 per hour in comparison with $9.20-$18.53 currently.

Wal-Mart to expand Veteran Hiring

Wal-Mart to expand Veteran Hiring

Nate Waits is among more than 92,000 veterans Wal-Mart Stores Inc has hired in the past two years. Waits is a former Marine and now works four days a week at a Bentonville distribution center for Wal-Mart.

The company has made an announcement to expand its original plan to hire 100,000 veterans by 2018 to hire a total of 250,000 recently discharged veterans by 2020. The announcement has marked the two year anniversary of the Veterans Welcome Home Commitment program launched by the company on Memorial Day 2013.

Chris Sultemeier, executive vice president for logistics at Wal-Mart, said the work sills of the veterans are very impressive and the company thinks that it’s actually a very good idea to hire veterans for various positions, including retail, distribution and management.

Walmart Attempts to Surpass Amazon Prime

Walmart Attempts to Surpass Amazon Prime

In a bid to outscore archrival Amazon’s $99 Prime services, Walmart is set to test its $50 unlimited shipping service for its online customers, this summer.

Walmart Stores Inc., the retail giant is trying to ape Amazon’s success, by bringing the opportunity of getting products in a maximum of three days. As of now, owing to this being a pilot test, the portfolio of goods that qualify for three-day delivery has been kept limited. About 14 percent, that is, one million out of the seven million items available on Walmart’s website, are covered under this service.

Wal-Mart stands last in Consumer Satisfaction

Wal-Mart stands last in Consumer Satisfaction

A new study by American magazine Consumer Reports has found that American multinational retail corporation Wal-Mart has been rated the worst by consumers. The study also found that supermarket company Publix has been rated as the second-best grocery chain in the United States.

During the study, a number of shopping chains in the United States were ranked in more than a dozen categories, ranging from service to price. According to the study, Publix, which has headquarters in Florida, was given highest-possible rating by the shoppers in about five categories, including bakery and store-prepared food products. The category of number of local products carried by it was the only category, in which the supermarket company received below-average rating.

Walmart Taking Steps to reclaim its position as low-price leader

Walmart Taking Steps to reclaim its position as low-price leader

Amid stiff competition and slow sales in the US, Walmart is trying to reclaim its position as the low-price leader. The world’s largest retailer, based in Bentonville, Arkansas, has asked suppliers to reduce advertising spending in its stores.

General trend is makers of consumer products like laundry detergent spend a portion of their budget to market their products at Walmart. They do marketing through store displays and online ads in social media.

Now, Walmart has asked them to not spend money on such activities. In fact, it would be better if they reinvest some of that money. Deisha Barnett, a Walmart spokeswoman, has confirmed the strategy and the recent proposal is more of a ‘reinvigorated focus’.

Walmart praises Arkansas Governor for not signing Gay Discrimination Bill

Walmart praises Arkansas Governor for not signing Gay Discrimination Bill

On Wednesday, Walmart praised Arkansas Gov. Asa Hutchinson for refusing to sign a bill that could encourage discrimination by allowing business owners to refuse service to LGBT customers.

A similar disputed bill, known as Religious Freedom Restoration Act (RFRA), was signed last week in Indiana by Gov. Mike Pence.

It says that governments can't interfere on a person's religious rights unless it has a compelling government interest and is acting in the least intrusive way possible.

Since he signed the law, several public figures and businesses have come out against it since the legislature would legally protect employers, landlords and business owners who discriminate against LGBT people on religious grounds.

Walmart to extend online wholesale platform reach from Oct 1

WalmartNew Delhi: Walmart India on Satuday said it will extend online wholesale platform to its members in Guntur and Vijayawada in Andhra Pradesh from October 1.

The US-retail giant at present operates B2B e-commerce platform in two cities--Hyderabad and Lucknow-- in the country.

"Starting October 1, members of Best Price wholesale stores in Guntur and Vijayawada can shop and book orders online," the company said in a statement.

The e-commerce platform will provide the same range of products as its wholesale stores, including a select variety of fresh fruits and vegetables, it added.

Wal-Mart CEO: speed up pace of change

Doug McMillonFayetteville: Wal-Mart's CEO Doug McMillon said the world's largest retailer's task is to more quickly bring e-commerce together with physical stores to better serve shoppers.

At Wal-Mart Stores Inc.'s annual shareholders meeting on Friday, McMillon talked about a service that Wal-Mart offers at its Asda. Com Web site in the UK, where customers can order groceries online and then pick them up from trucks at various pickup points.

He also showed off miniature figures of executives to illustrate how some Wal-Mart stores have been using 3-D printers to create miniature figurines for customers in the UK.

Walmart sues Visa for $5 billion for fixing & inflating card fees

WalmartWalmart Stores Inc has filed a lawsuit against Visa Inc, accusing the credit & debit card giant of conspiring with banks to fix fees that merchants pay for accepting payments through Visa cards.

In the suit filed earlier this week in the U. S. District Court for the Western District of Arkansas, the world's leading retailer accused Visa of conspiring with some of the largest U. S. banks to illegally fix and inflate fees that merchants pay on Visa charge card transactions.

The retailer said Visa used the price-fixing schemes to maintain its dominance in the market.

Walmart currently focused on cash-&-carry business in India: McMillon

Doug McMillonWalmart is currently concentrating on growing its wholesale retail business in India and would wait for more clarity on the government's FDI rules before entering the lucrative multi-brand retail sector, the U. S.-based retail giant's chief said on Friday.

Doug McMillon, president and chief executive of Walmart, said that they were excited about India but at the moment they were focused on cash-&-carry business under our Best Price brand.

Walmart removes tainted donkey meat from stores in China

Walmart removes tainted donkey meat from stores in ChinaShanghai, Jan 4 - Walmart over the past few days has removed from its stores in the Chinese city of Jinan several batches of donkey meat, when it was found that it was being sold fraudulently mixed with undeclared meat from other animals.

After a series of DNA tests, it was found that the donkey meat, a normal dish in the eastern province of Shandong, was mixed with flesh from other animals, including fox meat, China Daily said Friday.

CCI approves Walmart’s proposal to buy Bharti’s 50% stake in Indian JV

CCI approves Walmart’s proposal to buy Bharti’s 50% stake in Indian JVThe Competition Commission of India (CCI) on Monday approved American retail giant Walmart Stores Inc's proposal to acquire Bharti Group's nearly 50 per cent stake in their Indian wholesale stores joint venture.

Wal-Mart appoints Krish Iyer as India CEO

Wal-Mart appoints Krish Iyer as India CEOGlobal retailer Wal-Mart has appointed Krish Iyer as the president and chief executive officer (CEO) of its Indian unit.

Iyer, who owns strong experience of setting up new ventures, will take over from interim CEO Ramnik Naresy on 20th of January, 2014. The top position had fallen vacant following the unexpected departure of Raj Jain earlier this year.

Wal-Mart audit finds 15% of Bangladesh factories unsafe

Wal MartThe initial round of safety inspections by Wal-Mart in Bangladesh has shown that more than 15 per cent of the factories in Bangladesh failed their safety tests.

The partner firms had to made changes in order to keep doing businesses with the world's largest retailer. The retailer said that most of the three dozen factories were able to address concerns or is in the process of making changes to incorporate the safety measures. The retailer said that one of the factories had to knock down an illegally built eighth floor building in the premises.

Walmart lowers expectations for Christmas sales

WalmarRetailers in the US have lowered expectations for the coming holiday season sale as the country continues to record unemployment within its customer base, tight budgets and effects of the government's health care plans.

ED finds no FDI violations by Walmart

ED finds no FDI violations by WalmartThe Enforcement Directorate (ED) on Thursday announced its decision to close its investigation against Walmart saying it didn't find any violations of FDI (foreign direct investment) norms by the American retail giant.

The ED was asked by the reserve Bank of India (RBI) to look into allegations that Walmart violated the country's FDI norms by investing money in the retail sector years before the country opened the sector for foreign investors.

The federal agency noted that there was lack of clarity on FDI rules regarding multi-brand retail during or before 2010.

Check out More news from Telecom Sector :: Pharmaceutical Sector :: Auto Sector :: Infrastructure :: Real Estate

Syndicate content