Walmart announced Thursday that more than 890,000 Walmart associates in the country are receiving a share of more than $560 million dollars in cash bonuses. In Virginia alone, associates will receive $16.6 million in cash bonuses. The bonuses and the annual pay raise will be included in associates' paychecks they will receive Thursday.
CLOSE INDIANAPOLIS - How long did it take Indiana University students Christian Perry and Noah Maxwell to grow tired of the Walmart atmosphere as they embarked on a journey to spend two consecutive days in the ubiquitous big-box store? "About 35 minutes in because I was already getting sick of it," Perry said with a laugh.
Police in Paragould, Arkansas said someone may have dumped dozens of snakes in the parking lot of the popular box store. Calls came in Sunday night. Many thought they were dangerous poisonous snakes like copperheads or water moccasins, KAIT reported. Luckily one of the police officers knew the slithery serpents and determined they were all not venomous.
Jet.com is an American e-commerce company headquartered in Hoboken, New Jersey. The company was cofounded by entrepreneur Marc Lore (who had sold his previous company, Diapers.com, to Amazon.com) along with Mike Hanrahan and Nate Faust, and has raised $820 million over four venture rounds from firms including Google Ventures, Goldman Sachs, Bain Capital Ventures, Accel Partners, Alibaba Group, and Fidelity.
The war between Amazon and Walmart is well known in the world of retail. In order to win over customers, the two retailers have been trying to one-up each other by slashing prices. At an event hosted by investment bank Jefferies, David Cheesewright, president and CEO of Walmart International, said he was optimistic about the future prospects of his company's digital business.
Recognizing the existential threat posed by Amazon.com ( AMZN), the online retailing juggernaut Wal-Mart ( WMT) has been attempting to ramp up its online presence through a slew of acquisitions. In Aug. 2016, the company began its campaign with its acquisition of Jet.com for $3 billion as well as 300 million shares of Wal-Mart stock.
Wal-Mart Stores, Inc. (), doing business as Walmart, is an American multinational retailing corporation that operates as a chain of hypermarkets, discount department stores, and grocery stores. Headquartered in Bentonville, Arkansas, the company was founded by Sam Walton in 1962 and incorporated on October 31, 1969.
The retail juggernaut announced it would raise its minimum starting wage to $11 per hour, hand out between $200 and $1,000 in bonuses to current employees and expand its parental leave benefits. Walmart CEO Doug McMillon in a press release " Tax reform gives us the opportunity to be more competitive globally and to accelerate plans for the U.S."
NEW YORK - Walmart has bought trendy clothing seller ModCloth, part of a big push to pick up smaller online brands as it tries to make headway against Amazon. The company declined to specify the price on the deal that closed Friday, saying only that it was in the same range as its previous two purchases of online businesses.
Walmart has purchased Moosejaw for $51 million, a move aimed squarely at besting Amazon in the apparel and sporting goods categories as the battle heats up. Walmart will now have a presence in a category reeling from consolidation and disruption. Moosejaw is largely an online seller of outdoor gear and activewear, with 10 brick-and-mortar locations.