Retail chain Walmart Inc. has announced an extension of its holiday return window as well as new policies aimed at making the return experience “easier and more convenient” for customers. Those who buy products from Walmart stores on or after Oct. 1 can return the items through Jan. 31, 2023, per the new “Holiday Guarantee”…
CVS, Walmart Reach $147.5 Million Opioid Settlement With West Virginia
CVS Health Corp. and Walmart Inc. have agreed to pay $147.5 million to settle West Virginia’s claims over their alleged roles in the state’s opioid crisis, state attorney general Patrick Morrisey said Tuesday. West Virginia had been prepared to proceed to trial on Sept. 26 against those two companies and Walgreens Boots Alliance. The state…
Walmart Latest to Tap Bond Market With $5 Billion Offerings
Walmart Inc. will raise $5 billion in bond offerings, joining a host of big retailers and restaurant chains to tap the debt market ahead of the U.S. Federal Reserve’s next potential rate move. A company filing showed on Wednesday that its bonds will be due between 2025 and 2052 and have a coupon rate of…
Solar Rooftops at US Amazon Facilities Power Back On After Fire Safety Overhauls
Amazon.com Inc. is powering back on solar rooftops at all North American facilities after doing fire safety overhauls. “As inspections are completed, our onsite solar systems are being powered back on. Amazon also built a team of dedicated solar experts overseeing the construction, operations, and maintenance of our systems in-house to ensure the safety of…
Walmart Makes Offer to Buy Out Rest of South African Retailer Massmart
JOHANNESBURG—Walmart Inc. has launched a 6.4 billion rand ($377.6 million) offer for the remaining 47 percent of South African retailer Massmart it does not already own, valuing it at a premium of over 50 percent. Shares in Massmart surged 46 percent after the company announced the news on Monday, as its Chairman Kuseni Dlamini said the…
How Bad of a Recession? It Depends on the Consumer
August 29, 2022
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Commentary Consumer spending drives two-thirds of the U.S. economy. But the resolve of American consumers will be put to the test. The stock market, tugged by fears of high interest rates, has gyrated most of the year. Year-over-year inflation has risen to heights not seen in more than 40 years. The bottom is threatening to…
Judge Dismisses Ivermectin Lawsuit, Says Pharmacists Can Refuse to Fill Prescriptions
A federal judge has dismissed a lawsuit centered on pharmacists’ refusals to fill prescriptions for ivermectin and hydroxychloroquine, ruling that the refusals were not illegal. The arguments in the suit, centered on the right to self-determination, were wrong according to U.S. District Judge Patrick Schiltz, a George W. Bush appointee. “It is one thing to…
4 Walmart Analysts Raise Price Targets After Q2 Earnings Beat: ‘Leader and Market Share Gainer’
Walmart Inc. reported impressive second-quarter earnings growth and reiterated its full-year guidance. On Tuesday, Walmart reported second-quarter adjusted EPS of $1.77 on revenue of $152.8 billion. Both numbers exceeded consensus analyst estimates of $1.62 and $150.8 billion, respectively. Revenue was up 8 percent from a year ago. Walmart reported 6.5 percent U.S. same-store sales growth,…
Red-Hot Inflation Drives Wealthier Americans to Shop at Walmart
Inflation has become such a problem that high-income-class Americans have begun opting for shopping items at destinations like Walmart. Walmart’s reputation as a discounter is attracting more upper- and middle-class consumers to its stores, said John David Rainey, the company’s chief financial officer, in a recent interview with CNBC. Budget-strapped consumers are “trading down” in…
Walmart Sees Smaller Profit Drop as Discounts Draw Inflation-Hit Shoppers
Walmart Inc. nudged up its annual profit forecast on Tuesday, partly reversing a hefty cut less than a month ago, as discounts to clear excess merchandise and lower fuel prices helped it beat expectations for quarterly sales. The stock, which has fallen over 8 percent this year, rose 3.7 percent in premarket trading. Shares of…
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