Author: Siddharth Cavale
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Walmart to upgrade 1,400 stores with $9 billion investment
By Siddharth Cavale NEW YORK (Reuters) – U.S. retail chain Walmart on Monday said it is investing more than $9 billion over a two-year period to upgrade and modernize some U.S. stores with improved layouts, expanded product selections and new tech additions. On Friday, 117 stores in 30 states will be re-launched showcasing the enhancements,…
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Walmart keeps grocery prices steady amid inflation, antitrust claims
By Siddharth Cavale NEW YORK (Reuters) – A new analysis of Walmart’s pricing strategy reveals it has consistently kept grocery prices lower than competitors while generally hiking prices at rates far below U.S. inflation, even while the firm now faces allegations of using its clout to gain unfair advantages over rivals. Data analytics firm Dataweave…
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Walmart plans own EV charger network at U.S. stores by 2030
By Siddharth Cavale and Abhirup Roy NEW YORK (Reuters) – Walmart Inc plans to have its own network of electric vehicle charging stations by 2030 to tap into the growing adoption of EVs in the United States. The new fast-charging stations will be placed at thousands of Walmart and Sam’s Club stores, alongside nearly 1,300…
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Retailers staff up to prep for return of in-store holiday shopping
By Siddharth Cavale and Uday Sampath Kumar NEW YORK, October 6 (Reuters) -Several major retailers including Walmart are directing the majority of their holiday hires to work on store floors this year as Americans shift to shopping in-person rather than mostly online. Walmart Inc told Reuters that 36,500 of its seasonal hiring jobs this year…
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Aldi’s U.S. sales rise as shoppers seek cheaper groceries
By Siddharth Cavale (Reuters) -Aldi’s U.S. arm said on Wednesday that same-store sales in the country rose in the double digits over the last 12 months as rampant inflation pushed consumers to find cheaper deals on groceries. The German-owned discount supermarket chain’s U.S. stores sales growth over the past year was driven by 1 million…
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Walmart raises wages of pharmacy workers in tight labor market
By Siddharth Cavale NEW YORK (Reuters) -Walmart Inc said on Thursday it would increase the average pay of pharmacy workers to more than $20 per hour and offer more frequent and automatic pay raises as part of a new “progressive wage model” to address a tight domestic labor market. The raises by the nation’s largest…
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Walmart profit falls short, cuts outlook, hit by higher fuel and labor costs
By Uday Sampath Kumar and Siddharth Cavale (Reuters) -Walmart Inc reported a 25% drop in quarterly earnings and cut its full-year profit outlook on Tuesday as rising costs of fuel and labor hurt its bottom line while shoppers squeezed by decades-high inflation moved to buy lower-margin basics. Shares of the retailer fell nearly 10% in…
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Nestle aims to nearly double sales via e-commerce by 2025
By Siddharth Cavale (Reuters) -Nescafe maker Nestle on Wednesday said it expects to nearly double its e-commerce sales to 25% of its group total by 2025 by stepping up marketing and technological investments. Nestle will push sales of its products to consumers directly via its own online channels, or direct to consumer, Nestle CEO Mark…