About: http://data.cimple.eu/news-article/42a9595c1a68da949430449a663211a8ca9108fa4b20ebd82f363c82

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About: http://data.cimple.eu/news-article/42a9595c1a68da949430449a663211a8ca9108fa4b20ebd82f363c82 Goto Sponge NotDistinct Permalink

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rdf:type	schema:NewsArticle
schema:articleBody	Walmart reported Thursday strong fourth-quarter sales amid the upheaval of the coronavirus pandemic, but shares fell sharply as it announced costly investments on technology and higher wages. The retail giant reported a fourth-quarter loss of $2.1 billion from the accounting for asset sales, compared with profits of $4.1 billion in the year-ago period. Revenues rose 7.3 percent to $152.1 billion. Shares fell about five percent after the company announced a steep increase in capital spending. Walmart will ramp up investments on automation and supply chain improvements and boost wages for some 425,000 US workers as it works to build on the momentum from the pandemic when it picked up new customers and grew its e-commerce operation. "Our business is strong, and we're making it even stronger with targeted investments to accelerate growth," said Chief Executive Doug McMillon. "This is a time to be even more aggressive because of the opportunity we see in front of us." The company projected capital spending of $14 billion in fiscal 2022 compared with $10.3 billon in the year that just ended. The wage increases will lift Walmart's US employee average wage to above $15 per hour. However, Walmart did not alter its national minimum wage, which is currently $11 an hour. Shares fell 4.7 percent to $140.35. jmb/wat
schema:headline	Walmart reports strong 4Q sales, shares drop on wage hikes
schema:mentions	Wat Minimum wage in the United States E-commerce Supply chain Accounting Walmart Pandemic Coronavirus Billon (alloy) Doug McMillon Automation Momentum
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2021-02-18 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	60 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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