Walmart

Ticker WMT

Today's data summary

Market closed
% change
-0.71%
Price US dollars
113.90
Change
-0.82
As of 04:41 20 Jul 2019
Market cap. US dollars
326,565.50 million
As of 04:41 20 Jul 2019

Latest updates

Walmart to invest in China logistics

Walmart checkouts
Reuters

US retail giant Walmart plans to invest 8 billion yuan ($1.2bn; £950m) in China over the next 10 years to upgrade logistics, it said in a statement on its social media account on Monday.

The company also said it will set up or renovate more than 10 logistics centres in China.

Walmart 'considering Asda flotation'

Bloomberg Business retail reporter tweets...

Bloomberg

Walmart raises minimum age for buying tobacco

Walmart supermarket
AFP

Walmart has written a letter to the US Food and Drug Administration (FDA) stating that it is raising the minimum age for purchasing tobacco products to 21.

Additionally, Walmart is also going stop selling fruit and dessert-flavoured e-cigarettes, after the FDA threatened to fine several supermarket and convenience store chains across the US for illegally selling tobacco products to minors.

At the time, FDA said that Walmart violated inspections for illegally selling tobacco products to minors by a rate of 17%.

Walmart said it would take steps to prevent minors from buying tobacco products, including improving its age verification training for staff by using virtual reality software.

Walmart sales up

walmart logo
Getty Images

Walmart - which currently owns Asda - has said its sales rose 4.2% in the fourth quarter.

That is more than analysts had been expecting.

Total revenue in the fourth quarter was $138.8bn, an increase of $2.5bn, or 1.9%.

Its shares were up 4% in pre-market trading.

Good Morning

Welcome to today's Business Live page, we'll be with you throught the day.

Coming up at 8am we're expecting official confirmation from Honda about the closure of its Swindon car plant in 2022, with the loss of about 3,500 jobs.

At 9.30am we'll discover the latest Office for National Statistics unemployment figures for January.

Before then in company announcements there'll be Walmart and Asda quarter four figures, and interims from BHP Billiton and the International Hotel Group, with HSBC already having issued disappointing annual results this morning.

Please get in touch with your comments at bizlivepage@bbc.co.uk.

Asda and co should 'pay their staff fairly'

Our clients are obviously delighted to have won this major victory against Asda and we now hope that rather than continuing to spend huge sums of money thwarting attempts to pay their staff what they are worth, Asda and the other major supermarkets pay their staff fairly as these workers are also their customers and fair wages benefit all businesses and UK society in general. We call on Wal-Mart to lead the change for those hard-working store staff who are their workers and the public face of Asda."

Linda WongAssociate solicitor at Leigh Day

Asda workers win first stage of equal pay battle

Asda logo
Getty Images

Asda store staff can compare themselves to warehouse workers, the Court of Appeal has ruled.

Asda, which is owned by US retail giant Wal-Mart, had appealed against two previous rulings which found that lower paid shop workers, who are mostly women, can compare themselves to higher paid workers in Asda’s distribution centres, who are mostly men.

Law firm Leigh Day, which is representing Asda workers, said equal pay cases have three main stages.

Firstly, deciding whether are roles are comparable. Secondly, whether they are equal value, and thirdly, is there a reason other than discrimination which means roles shouldn't have equal pay?