There was a lot of negativity in the air this week regarding Walmart. Jefferies & Co. analyst Dan Binder downgraded the company on Tuesday and proceeded to appear on CNBC where he expressed concerns about company specific issues at Walmart regarding turnaround initiatives not gaining traction in the time frame he had hoped for.
Operating internationally is full of pitfalls and political peculiarity, as Walmart has again discovered in South Africa where various government officials are attempting to wring additional concessions from the company related to its acquisition of Massmart.
The seventh installment in the Family Movie Night entertainment initiative between Procter & Gamble and Walmart is set to air this Saturday at 8 p.m. on NBC. The made-for-TV movie, Who is Simon Miller?, is billed as a heart-pounding summer spy drama that tests the limits to which families will fight for each other that will keep the whole family riveted.
Little reason to believe Sam’s Club won’t easily meet or possibly exceed second-quarter same-store guidance that calls for an increase of 3% to 5%, following reports this week from Costco and BJ’s Wholesale club.
Walmart announced that through its Acres for America program it is donating $500,000 to help protect, conserve and restore fragile urban ecosystems in Washington D.C., Chicago, Los Angeles, and New York City.
Walmart said it will donate $20 million to the Crystal Bridges Museum of American Art to provide for free admission for the next five years. The expansive world class facility scheduled to open Nov. 11 in Bentonville, Ark. was founded by the Walton Family Foundation in 2005.