Today, Walmart officials announced that they expect a 1-2% increase in sales for the current fiscal year; this estimate is down from the original estimate of 5-7%.
In the last six months, Walmart has been trying to re-invent itself. Walmart’s stock hit a multi-year low, and sales are down in 2009 more than they anticipated. They settled a case with the federal government over hiring illegal aliens, they have a new CEO, and they closed a store in Canada after workers unionized. They are trying to be a little more open with the public about Walmart information.
Walmart has added 60,000 people in the last six months, and have sold $154 billion dollars worth of merchandise. Walmart is the most powerful company in the world, and whether we like it or not “we are living in the age of Walmart,” David Faber from CNBC states.
Yesterday, the United Food and Commercial Workers union demonstrated outside a Walmart store in New Jersey and 300-400 people showed up to demonstrate. These demonstrations occur several times a week at some Walmart store around the world, according to Wake Up Walmart.
The Age of Walmart a CNBC documentary was on CNBC tonight and the documentary had a unique view of the good and the bad of Walmart. The story of Walmart is fascinating because of its beginnings, and how they are a well oiled machine, the merchandise moves through their stores, and they are on top of something that sells well. They are also known for towns and cities not welcoming the stores into their neighborhoods.
Utah has 34 Walmart Super Centers, 2 discount stores, 5 neighborhood markets, 8 Sam's Clubs and 3 distribution centers, and as of September 2009 Walmart employed over 17,000 people in Utah.
Sources: CNBC, Wake up Walmart, Walmart, and Courant
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Comments
Walmart screws its workforce with low pay/benefits. It wants them to leave on a regular basis so they don't expect more money or benefits.
We have reached an all time low. The children of ol Sam (who own 40% of WM) are each sitting on tens of billions of dollars assets each, yet they nickle and dime their workers who are just trying to put food on the table.
Walmart is a cancer to business and working families.
WW
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