WALMART SALES STILL SURGING, BUT A CHILL MAY BE ON THE WAY
Techlife News|Techlife News #486
Walmart is raising wages for 425,000 of its 1.5 million U.S. workers and is investing $14 billion this year to speed up its distribution network as the nation’s largest retailer navigates vast industry changes that were accelerated by the pandemic.

Walmart Inc. reported a mixed performance Thursday for the fourth quarter. It swung to a loss partly due to costs related to the pandemic, and the sale of its Japan and U.K. divisions. But sales surged by 7.4% in the period that includes the critical holiday shopping season. Sales at stores opened at least a year rose 8.6%, up from 6.4% in the previous quarter.

While online sales surged 69%, that is down from an 80% spike in the prior period and it was the slowest growth since the pandemic began. The company also said it expects overall sales to moderate this year. Shares dipped almost 6% in early trading.

It is the steepest one-day sell off in almost a year.

Walmart has pushed hard into fast and convenient delivery during the pandemic. But even the massive infrastructure put into place by Walmart in recent years were strained by the crush of orders from millions of people sheltering at home.

Continue reading your story on the app

Continue reading your story in the magazine

MORE STORIES FROM TECHLIFE NEWSView All

$1,400 STIMULUS CHECKS HELPED MARCH RETAIL SALES SOAR 9.8%

Newly vaccinated and armed with $1,400 stimulus checks, Americans went on a spending spree last month, buying new clothes and going out to eat again.

2 mins read
Techlife News
Techlife News #494

BIG-BUSINESS PUSHBACK AGAINST VOTING MEASURES GAINS MOMENTUM

Big business has ratcheted up its objections to proposals that would make it harder to vote, with several hundred companies and executives signing a new statement opposing “any discriminatory legislation.”

4 mins read
Techlife News
Techlife News #494

THE DISABLED HOPE THEIR OSCAR MOMENT CAN BECOME A MOVEMENT

Right down to its production design, the Oscars have not always felt like the most welcoming place for the disabled.

5 mins read
Techlife News
Techlife News #494

A $1.2 BILLION LOSS FOR DELTA, BUT RECOVERY IS ON THE RADAR

Delta Air Lines lost $1.2 billion in the first quarter, more than expected, but executives said Thursday that the airline could be profitable by late summer if the budding recovery in air travel continues.

3 mins read
Techlife News
Techlife News #494

USERS COULD SOON HIDE ‘LIKE' COUNTS ON INSTAGRAM, FACEBOOK

The tiny red hearts that appear under Instagram photos of kids, kittens and sandwiches can be a source of stress for many users, an insidious way of measuring self-worth and popularity.

1 min read
Techlife News
Techlife News #494

DRIVERS WANTED: RECORD DEMAND AT UBER AS VACCINATIONS RISE

Uber is offering sign-up bonuses and other incentives for drivers as it faces record demand for rides and meal delivery.

2 mins read
Techlife News
Techlife News #494

US RECOMMENDS ‘PAUSE' FOR J&J SHOTS IN BLOW TO VACCINE DRIVE

The U.S. recommended a “pause” in use of the single-dose Johnson & Johnson COVID-19 vaccine to investigate reports of rare but potentially dangerous blood clots, setting off a chain reaction worldwide and dealing a setback to the global vaccination campaign.

5 mins read
Techlife News
Techlife News #494

COINBASE SOARS IN MARKET DEBUT, VALUED NEAR $86 BILLION

Coinbase made a rousing debut on Wall Street Wednesday, with shares of the digital currency exchange rising as high as $429, briefly giving it a market value over $100 billion.

3 mins read
Techlife News
Techlife News #494

GOOGLE EARTH ADDS TIME LAPSE VIDEO TO DEPICT CLIMATE CHANGE

The Google Earth app is adding a new video feature that draws upon nearly four decades of satellite imagery to vividly illustrate how climate change has affected glaciers, beaches, forests and other places around the world.

2 mins read
Techlife News
Techlife News #494

DOGECOIN: THE NEW BITCOIN IS HAPPENING RIGHT NOW

DISCLAIMER The Content of this article is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained constitutes a solicitation, recommendation, endorsement, or offer by HII or any third party service provider to buy or sell any securities or other financial instruments in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction. All Content presented is the information of a general nature and does not address the circumstances of any particular individual or entity. Nothing in the article or website constitutes professional and/or financial advice.

8 mins read
Techlife News
Techlife News #487
RELATED STORIES

Life Changing

I was happily married, happily employed, just plain happy. Until the accident

8 mins read
Guideposts
February 2021

A housewarming gift

My husband seemed to be in every room— even though I knew he was in heaven

3 mins read
Angels on Earth
Jan/Feb 2021

WALMART DELIVERY

Walmart and Zipline have launched a first-of-its-kind drone delivery operation in the U.S.

1 min read
RotorDrone
December/ January 2021

VIDEO APP TIKTOK LEANS INTO E-COMMERCE WITH SHOPIFY DEAL

The 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.

2 mins read
AppleMagazine
AppleMagazine #470

WALMART TO SPREAD OUT DEALS TO AVOID BLACK FRIDAY CROWDS

Walmart says it will spread out its traditional one-day Black Friday deals over three weekends in November in an effort to reduce crowds in its stores during a pandemic.

2 mins read
AppleMagazine
October 16, 2020

15 Years Later, Walmart to Launch It's Answer to Amazon Prime

Walmart is launching a new membership service that it hopes can compete with Amazon Prime.

2 mins read
AppleMagazine
September 04,2020

What Does Walmart See in TikTok? Millions of Young Shoppers

Walmart may be the world’s largest retailer but it has mostly failed in its efforts to break Amazon’s online dominance.

3 mins read
AppleMagazine
September 04,2020

SPYKE AND MIKE

“FOMO” – FEAR OF MISSION OUT

3 mins read
Born To Ride Florida
August 2020

Walmart's Online Sales Soar as Shoppers Stock Up on Supplies

Americans turned to Walmart’s online business as well as its stores for supplies and home goods as the virus surged in new regions, resulting in soaring sales for the fiscal second quarter.

3 mins read
AppleMagazine
August 21, 2020

THE MERCHANT OF EVERYTHING

How I failed and failed and failed until finding a product retailers love

5 mins read
Inc.
September 2020