Walmart Inc. - WMT STOCK NEWS

Walmart has agreed to a $3.1 billion nationwide opioid settlement framework to address lawsuits from state, local, and tribal governments, pending the satisfaction of all conditions. The settlement aims to expedite aid to communities facing the opioid crisis, marking it as the fastest resolution to date. While Walmart disputes the allegations without admitting liability, it remains committed to opioid stewardship and will continue its defense against unresolved lawsuits.

Walmart Inc. reported strong third-quarter results with total revenue of $152.8 billion, an increase of 8.7%, and 9.8% in constant currency. Comp sales at Walmart U.S. grew by 8.2%, with eCommerce up 16%. Sam's Club comp sales rose 10% and membership income increased 8%. International sales reached $25.3 billion. Walmart’s global advertising growth exceeded 30%. However, gross profit rate declined by 89 basis points, and operating income fell by 53.5% due to opioid-related legal charges. Walmart announced a new $20 billion share repurchase authorization.

Gatik has achieved a significant milestone by becoming the first autonomous trucking company to remove the safety driver from a commercial delivery route globally, partnering with Walmart (NYSE: WMT) in Arkansas. This accomplishment is part of their fully driverless deliveries between a warehouse and a Neighborhood Market. TIME named Gatik one of the Best Inventions of 2022 recognizing their long-term commercial solutions and impact in the sector. Gatik is also expanding operations with Canada’s Loblaw.

Walmart Inc. (NYSE: WMT) will hold a conference call on November 15, 2022, at 7 a.m. CST to discuss its third quarter earnings results for fiscal year 2023. CEO Doug McMillon and CFO John David Rainey will lead the call, which will also be webcast live. Walmart will release its earnings results and related materials earlier on the same day at 6 a.m. CST. The company serves approximately 230 million customers weekly across over 10,500 stores globally, reporting $573 billion in revenue for fiscal year 2022.

Rubicon Technologies (NYSE: RBT) and Walmart (NYSE: WMT) have signed a two-year agreement to enhance waste diversion efforts and improve account management services. This partnership will expand into the recycling of plastic film and green waste collection, building upon their collaboration since 2013. Rubicon's RUBICONConnect™ is already utilized in 70 Walmart distribution centers, optimizing waste efficiency and sustainability. This extension aligns with Walmart's goals of zero waste and advancing a circular economy.

Walmart is offering a significant discount on its Walmart+ membership, allowing new signups to pay $49 from Nov. 1-3, effectively giving them six months free. This promotion enables members early access to Black Friday deals starting Nov. 7. The membership includes various benefits like grocery deliveries and streaming services, aimed to enhance customer convenience during the holiday season. This initiative is expected to boost membership and drive sales amid the competitive retail environment.

Walmart and Popable announced a strategic partnership enabling small businesses to rent pop-up retail space in Walmart stores across the U.S. This initiative allows small brands to engage with customers without long-term lease commitments, crucial for businesses recovering post-pandemic. Leasing agreements can vary from one month to a year, offering flexible options. Walmart's involvement emphasizes its commitment to supporting local economies and small businesses, enhancing their visibility during the holiday season.

Walmart has completed renovations at its Palestine, Texas distribution center, transforming it into a high-tech automation facility. This multi-million-dollar investment is part of Walmart's broader initiative to modernize all 42 regional distribution centers, enhancing supply chain efficiency and safety. The facility employs nearly 1,000 associates and will now utilize AI and robotics for quicker distribution. Walmart also presented donations to local schools and food banks, reaffirming its commitment to the community.

Walmart Health is set to enhance healthcare accessibility in Florida by opening 16 new health centers in metro areas including Jacksonville, Orlando, and Tampa by fall 2023. With Florida's population growing rapidly, the new centers will provide various health services seven days a week. Walmart Health's initial six locations have already shown success, reducing patient wait times and achieving high satisfaction rates. Once operational, the total will reach 22 centers across Florida, further improving community health access.