Walmart

===2020s: Continuing growth and development===
[[File:Walmart Coronavirus notices.jpg|thumb|Signs on a Walmart indicated changes due to the COVID-19 pandemic.]]

The [[COVID-19 pandemic|coronavirus (COVID-19) pandemic]] forced store closures, limited store occupancy, large-scale employee dismissal, and the enforcement of [[social distancing]] protocols for Walmart and many other companies. Store hours were adjusted to allow cleaning and stocking.

In March 2020, due to the pandemic, Walmart changed some of its employee benefits. Employees can now decide to stay home and take unpaid leave if they feel unable to work or uncomfortable coming to work. Additionally, Walmart employees who contract the virus will receive "up to two weeks of pay". After two weeks, hourly associates who are unable to return to work are eligible for up to 26 weeks in pay.<ref>{{Cite web|url=https://www.businessinsider.com/coronavirus-changes-walmart-starbucks-employee-benefits-2020-3|title=From Walmart to Burger King's parent company, these 14 retail companies are changing their benefits policies amid the coronavirus pandemic|last=Jiang|first=Irene|website=Business Insider|access-date=March 20, 2020|archive-date=November 14, 2020|archive-url=https://web.archive.org/web/20201114074301/https://www.businessinsider.com/coronavirus-changes-walmart-starbucks-employee-benefits-2020-3|url-status=live}}</ref> As of July 21, 2020, Walmart paid pandemic bonuses of $428&nbsp;million to its staff. People who did part-time or temporary work received a bonus of $150 while those who worked full-time received a bonus of $300.<ref>{{cite news |title=Walmart to spend another $428 million on employee bonuses |url=https://www.reuters.com/article/us-health-coronavirus-walmart-idCAKCN24M25C |access-date=October 12, 2022 |work=Reuters |date=July 21, 2020 |language=en |archive-date=October 12, 2022 |archive-url=https://web.archive.org/web/20221012193409/https://www.reuters.com/article/us-health-coronavirus-walmart-idCAKCN24M25C |url-status=live }}</ref> In July 2020, Walmart announced that all customers would be required to wear masks in all stores nationwide, including Sam's Club.<ref>{{Cite web|last=Tyko|first=Kelly|date=July 15, 2020|title=Walmart and Sam's Club to require masks nationwide starting July 20 as COVID-19 cases rise|url=https://www.usatoday.com/story/money/2020/07/15/walmart-masks-required-shoppers-sams-club-covid-19/5442415002/|access-date=July 15, 2020|website=USA Today|archive-date=December 4, 2020|archive-url=https://web.archive.org/web/20201204083053/https://www.usatoday.com/story/money/2020/07/15/walmart-masks-required-shoppers-sams-club-covid-19/5442415002/|url-status=live}}</ref>

In the first quarter of 2020, consumers responded to COVID by shopping less frequently (5.6% fewer transactions), and buying more when they did shop (16.5%).<ref name="Kohan"/> As people shifted from eating out to eating at home,<ref name="Volpe">{{cite journal |last1=Volpe |first1=Richard |last2=Boland |first2=Michael A. |title=The Economic Impacts of Walmart Supercenters |journal=Annual Review of Resource Economics |date=October 5, 2022 |volume=14 |issue=1 |pages=43–62 |doi=10.1146/annurev-resource-111820-032827 |s2cid=250158765 |language=en |issn=1941-1340|doi-access=free }}</ref> net sales at Walmart increased by 10.5%, while online sales rose by 74%. Although Walmart experienced a 5.5% increase in operating expenses, its net income increased by 3.9%.<ref name="Kohan">{{cite news |last1=Kohan |first1=Shelley E. |title=Walmart's Online Sales Have Surged 74% During The Pandemic |url=https://www.forbes.com/sites/shelleykohan/2020/05/19/walmart-revenue-up-86-e-commerce-up-74/?sh=5f27f0d366cc |access-date=October 12, 2022 |work=Forbes |date=May 19, 2020 |language=en |archive-date=October 12, 2022 |archive-url=https://web.archive.org/web/20221012194851/https://www.forbes.com/sites/shelleykohan/2020/05/19/walmart-revenue-up-86-e-commerce-up-74/?sh=5f27f0d366cc |url-status=live }}</ref> In the third quarter of 2020, Walmart reported revenue of $134.7&nbsp;billion, representing a year-on-year increase of 5.2 percent.<ref>{{cite news|url=https://www.ft.com/content/ed02767c-48cd-418f-baa9-49cd44ed5310 |archive-url=https://ghostarchive.org/archive/20221210/https://www.ft.com/content/ed02767c-48cd-418f-baa9-49cd44ed5310 |archive-date=December 10, 2022 |url-access=subscription|title= Walmart and Home Depot extend pandemic winning streaks |work=[[Financial Times]]|first=Alistair|last=Gray|date=November 17, 2020|access-date=November 17, 2020}}</ref>

In December 2020, Walmart launched a new service, Carrier Pickup, that allows the customers to schedule returns.<ref>{{Cite news|date=December 21, 2020|title=Walmart unveils new product return service|work=Reuters|url=https://www.reuters.com/article/walmart-return-idUSKBN28V19O|access-date=December 21, 2020|archive-date=December 25, 2020|archive-url=https://web.archive.org/web/20201225204042/https://www.reuters.com/article/walmart-return-idUSKBN28V19O|url-status=live}}</ref>

In January 2021, Walmart announced that the company is launching a [[fintech]] startup, with venture partner Ribbit Capital, to provide financial products for consumers and employees.<ref>{{cite news |last=Townsend |first=Matthew |url=https://www.bloombergquint.com/onweb/walmart-announces-fintech-startup-with-ribbit-capital |title=Walmart Creates Fintech Startup, Speeding Push Beyond Retail |work=[[BloombergQuint]] |date=January 12, 2021 |access-date=January 12, 2021 |archive-date=January 23, 2021 |archive-url=https://web.archive.org/web/20210123151439/https://www.bloombergquint.com/onweb/walmart-announces-fintech-startup-with-ribbit-capital |url-status=live }}</ref>

In February 2021, Walmart acquired technology from Thunder Industries, which uses automation to create digital ads, to expand its online marketing capabilities.<ref>{{Cite news|last=Bruell|first=Sahil Patel and Alexandra|date=February 4, 2021|title=Walmart Buys Ad Tech to Chase Small-Business Advertisers|work=The Wall Street Journal|url=https://www.wsj.com/articles/walmart-buys-ad-tech-to-chase-small-business-advertisers-11612438200|access-date=February 8, 2021|issn=0099-9660|archive-date=February 7, 2021|archive-url=https://web.archive.org/web/20210207220700/https://www.wsj.com/articles/walmart-buys-ad-tech-to-chase-small-business-advertisers-11612438200|url-status=live}}</ref>

In May 2021, Walmart acquired the Israeli startup Zeekit startup for $200&nbsp;million. Zeekit uses artificial intelligence to allow customers to try on clothing via a dynamic virtual platform.<ref>[https://www.haaretz.com/israel-news/MAGAZINE-the-walmart-deal-meet-one-of-the-only-israeli-women-to-seal-a-nine-figure-exit-1.10112985 Meet one of the only Israeli women to seal a nine-figure exit] {{Webarchive|url=https://web.archive.org/web/20210914154004/https://www.haaretz.com/israel-news/MAGAZINE-the-walmart-deal-meet-one-of-the-only-israeli-women-to-seal-a-nine-figure-exit-1.10112985 |date=September 14, 2021 }}, [[Haaretz]]</ref>

In August 2021, Walmart announced it would open its Spark crowdsource delivery to other businesses as a white-label service, competing with [[Postmates]] and [[online food ordering]] delivery companies.<ref name="Spark delivery" />

In December 2021, Walmart announced it will participate in the Stephens Investment Conference Wednesday, and the Morgan Stanley Virtual Global Consumer & Retail Conference.<ref>{{Cite web|title=Walmart To Participate in Both the Stephens Investment Conference and the Morgan Stanley Virtual Global Consumer & Retail Conference|url=https://corporate.walmart.com/newsroom/2021/11/24/walmart-to-participate-in-both-the-stephens-investment-conference-and-the-morgan-stanley-virtual-global-consumer-retail-conference|access-date=November 28, 2021|website=Corporate – US|language=en-US|archive-date=November 28, 2021|archive-url=https://web.archive.org/web/20211128071336/https://corporate.walmart.com/newsroom/2021/11/24/walmart-to-participate-in-both-the-stephens-investment-conference-and-the-morgan-stanley-virtual-global-consumer-retail-conference|url-status=live}}</ref> In June 2022, Walmart announced it would be acquiring Memomi, an AR optical tech company.<ref>{{Cite web |title=Walmart is acquiring Memomi, an AR startup powering virtual try-on for eyewear |url=https://techcrunch.com/2022/06/29/walmart-is-acquiring-memomi-an-ar-startup-powering-virtual-try-on-for-eyewear/ |access-date=December 12, 2023 |website=TechCrunch |date=June 29, 2022 |language=en-US |last=Perez |first=Sarah}}</ref>

In August 2022, Walmart announced it would be acquiring Volt Systems, a vendor management and product tracking software company.<ref>{{Cite web |title=Walmart acquires omnichannel tech specialist Volt Systems |url=https://www.retaildive.com/news/walmart-acquires-volt-systems/629083/ |access-date=August 9, 2022 |website=Retail Dive |language=en-US |archive-date=August 9, 2022 |archive-url=https://web.archive.org/web/20220809145743/https://www.retaildive.com/news/walmart-acquires-volt-systems/629083/ |url-status=live }}</ref> Walmart announced it was partnering with [[Paramount Global|Paramount]] to offer [[Paramount+]] content
to its Walmart+ subscribers in a bid to better compete with Amazon.<ref>{{Cite news |title=Walmart Reaches Streaming Deal With Paramount+ |url=https://www.wsj.com/articles/walmart-reaches-streaming-deal-with-paramount-11660589853?mod=djemalertNEWS |access-date=August 15, 2022 |website=The Wall Street Journal |date=August 15, 2022 |language=en-US |archive-date=August 15, 2022 |archive-url=https://web.archive.org/web/20220815200353/https://www.wsj.com/articles/walmart-reaches-streaming-deal-with-paramount-11660589853?mod=djemalertNEWS |url-status=live }}</ref>

Walmart announced in August 2022 that locations were not going back to 24 hours with most stores now being open between 6am and 11pm.<ref>{{Cite web |last= |first= |title=Walmart: No plans to make stores 24/7 again |url=https://www.wtvy.com/2022/08/12/walmart-no-plans-make-stores-247-again/ |access-date=September 5, 2022 |website=WSFA 12 News |date=August 12, 2022 |language=en |archive-date=September 5, 2022 |archive-url=https://web.archive.org/web/20220905175620/https://www.wtvy.com/2022/08/12/walmart-no-plans-make-stores-247-again/ |url-status=live }}</ref>

In January 2023, Walmart announced it would raise its minimum wage for U.S. hourly workers from $12 to $14 an hour. Approximately 340,000 employees are expected to receive a raise, effective in early March 2023, and Walmart's U.S. average wage is expected to be over $17.50. The company also announced it would be adding additional college degrees and certificates to its Live Better U program.<ref>{{Cite web |last=Repko |first=Melissa |title=Walmart raises minimum wage as retail labor market remains tight |url=https://www.cnbc.com/2023/01/24/walmart-raises-minimum-wage-as-retail-labor-market-remains-tight.html |access-date=January 24, 2023 |website=CNBC |date=January 24, 2023 |language=en |archive-date=January 24, 2023 |archive-url=https://web.archive.org/web/20230124164008/https://www.cnbc.com/2023/01/24/walmart-raises-minimum-wage-as-retail-labor-market-remains-tight.html |url-status=live }}</ref>

In February 2023, Walmart announced that they had made $611.3&nbsp;billion in sales in the previous financial year, up 6.7%, which included a bump in the fourth quarter of the year, which saw $164&nbsp;billion in sales. Profits for the company were also up, almost doubled from the previous year.<ref>{{Cite web |date=February 21, 2023 |title=Walmart beats Q4 expectations during holiday shopping period |url=https://apnews.com/article/business-f130b49a4e23b17697179b13664abbaf |access-date=February 21, 2023 |website=AP NEWS |language=en |archive-date=February 21, 2023 |archive-url=https://web.archive.org/web/20230221140956/https://apnews.com/article/business-f130b49a4e23b17697179b13664abbaf |url-status=live }}</ref>

In April 2023, the company announced it would add electric vehicle charging stations at thousands of stores by 2030, which would be on top of the almost 1,300 existing stations that were in operation at 280 company locations at the time of the announcement. ''[[CNBC]]'' noted that the company stated it had more than 4,700 stores and 600 Sam Club's stores that were located within 10 miles of roughly 90% of Americans.<ref>{{Cite web |last=Sheidlower |first=Noah |title=Walmart will add thousands of EV charging stations to stores by 2030 |url=https://www.cnbc.com/2023/04/06/walmart-ev-charging-network-plans.html |access-date=April 6, 2023 |website=CNBC |date=April 6, 2023 |language=en |archive-date=April 6, 2023 |archive-url=https://web.archive.org/web/20230406202639/https://www.cnbc.com/2023/04/06/walmart-ev-charging-network-plans.html |url-status=live }}</ref>

In January 2024, Walmart announced it would open over 150 stores in the U.S. over the next five years while remodeling 650 existing ones across 47 states and Puerto Rico. This was a reversal for the company, which had been in a period of de-emphasizing new store openings as it focused on online competition, in particular from Amazon, and came amid an overall greater industry focus on traditional retail in the post-pandemic area.<ref>{{Cite web |date=January 31, 2024 |title=Walmart to open or expand more than 150 stores |url=https://www.nbcnews.com/business/corporations/walmart-open-expand-150-stores-rcna136652 |access-date=February 1, 2024 |website=NBC News |language=en}}</ref><ref>{{Cite web |last=Nassauer |first=Sarah |date=January 31, 2024 |title=Walmart, in a Reversal, to Open New Stores in the U.S. |url=https://www.wsj.com/business/retail/walmart-in-a-reversal-to-open-new-stores-in-the-u-s-ffb78d80 |access-date=February 1, 2024 |website=[[The Wall Street Journal]] |language=en}}</ref>

In February 2024, the company announced that its "Project Gigaton" initiative begun in 2017 to reduce its [[Carbon accounting|Scope 3 emissions]] from suppliers by 1 billion [[Tonne|metric tons]] by 2030 had reached its goal 6 years early, and that 75% of its net sales in fiscal year 2023 were from suppliers participating in the initiative.<ref>{{cite news|last=Richters|first=Kim|date=February 23, 2024|title=Walmart Hits Supply-Chain Emissions Goal—Six Years Early|work=The Wall Street Journal|publisher=News Corp|url=https://www.wsj.com/articles/walmart-hits-supply-chain-emissions-goalsix-years-early-8988d78f|access-date=February 23, 2024}}</ref>

====Acquisitions and employee benefits====

In February 2024, the company announced that managers will be given stock grants of up to $20,000, Walmart also announced a 3–1 stock split that will make it easier for employees to buy company stock. Such stock rewards for rank-and-file employees are rare in the retail industry, which analysts say could generate $20 billion in revenue for the average household in the near future.
The company is also raising the starting base salary for store managers and increasing the bonus plan of up to 200 per cent of their regular salaries.<ref>{{Cite web|language=en|url=https://www.cnbc.com/2024/02/03/what-walmarts-new-focus-on-employee-stock-means-for-american-wealth.html|title=What Walmart's new focus on employee stock means for the labor market and average American household|website=CNBC|date=February 3, 2024 |access-date=February 8, 2024|archive-date=February 6, 2024|archive-url=https://web.archive.org/web/20240206222534/https://www.cnbc.com/2024/02/03/what-walmarts-new-focus-on-employee-stock-means-for-american-wealth.html}}</ref>

Also in February, Walmart entered into an agreement to acquire [[Vizio]] for $2.3{{nbsp}}billion with the intention to expand its advertising sales in video content that streams for free on Vizio devices.<ref>{{Cite web |last=Hayes |first=Dade |date=February 20, 2024 |title=Walmart Acquires Smart TV Firm Vizio For $2.3B, Altering Streaming Ad Landscape |url=https://deadline.com/2024/02/walmart-acquires-smart-tv-firm-vizio-streaming-advertising-1235831495/ |work=Deadline Hollywood |archive-url=https://web.archive.org/web/20240220142503/https://deadline.com/2024/02/walmart-acquires-smart-tv-firm-vizio-streaming-advertising-1235831495/ |archive-date=February 20, 2024 |url-status=live}}</ref>