In order to revitalize the sluggish U.S. economy, retail giant
Wal-Mart Stores Inc.
(
WMT
) has planned to spend $50 billion to buy more American-made
merchandise in the next 10 years. The company also plans to hire
more than 100,000 veterans in the next five years and help its
part-time workers move into full-time positions.
Walmart, which is also the largest private employer, plans to
provide jobs to every veteran who had been honorably discharged
in the first 12 months off active duty. These veterans had served
in Afghanistan and Iraq and have had a difficult time finding
work for themselves after returning. Walmart, through this
initiative, will offer jobs mostly in its stores, either in Sam's
Club locations, or in its Arkansas based headquarters, or in the
company's distribution centers.
To support the initiative further, the White House will meet
with the Department of Veterans Affairs, the Department of
Defense and major U.S. employers in the coming weeks to train and
employ America's returning veterans. First Lady Michelle Obama
also showed her keen interest in working with Walmart supporting
this initiative, which will begin on the Memorial Day.
Further, Walmart plans to give an option to its part-time
workers to get much higher earning potential by transforming into
full-time workers in the Walmart stores if they so desire.
In addition to hiring veterans, Walmart plans to spend $50
billion to buy more American products over the next decade.
Walmart as well as other companies in U.S. have been facing
macroeconomic headwinds from a long time. Moreover, overseas
countries are also facing problems like high labor costs and
increasing oil and transportation costs, which limit U.S.
companies to produce goods outside U.S. Walmart, therefore, plans
to focus on buying more in the categories of sporting goods,
fashion basics, storage products, games and paper products, in
order to revive the sluggish U.S. economy.
Walmart plans to provide jobs to every veteran who had has
been honorably discharged in the first 12 months off active duty.
These veterans had served in Afghanistan and Iraq and have had a
difficult time finding work for themselves after their returning.
Walmart, through this initiative, will offer jobs mostly in its
stores, either in Sam's Club locations, or in its Arkansas based
headquarters, or in the company's distribution centers.
To support the initiative further, the White House will meet
with the Department of Veterans Affairs, the Department of
Defense and major U.S. employers in the coming weeks to train and
employ America's American's returning veterans. First Lady
Michelle Obama also showed her keen interest in working with
Walmart supporting on this initiative, which will begin on the
Memorial Day.
Further, Walmart plans to give an option to its part-time
workers to get much higher earning potential by transforming into
full-time workers in the Walmart stores if they so desire.
In addition to hiring veterans, Walmart plans to spend $50
billion to buy more American products over the next decade.
Walmart as well as other companies in U.S. have been facing
macroeconomic headwinds from a long time. Moreover, overseas
countries are also facing problems like high labor costs and
increasing oil and transportation costs, which limit U.S.
companies to produce goods outside U.S. Walmart, therefore, plan
to focus on buying more in the categories of sporting goods,
fashion basics, storage products, games and paper products, in
order to revive the sluggish U.S. economy.
The above mentioned commitments to increase domestic sourcing
of the products it sells and help veterans find jobs shows
Walmart's dedication and leadership position to find innovative
solutions to fix the economy.
Walmart currently carries a Zacks Rank #4 (Sell), while close
peer
Target Corp
(
TGT
) is better-positioned with Zacks Rank #3 (Hold). However, other
stocks in the variety store sector, which are attractive for
investment are
The Kroger Co.
(
KR
) and
Whole Foods Market Inc.
(
WFM
) both of which carry a Zacks Rank #2 (Buy).
KROGER CO (KR): Free Stock Analysis Report
TARGET CORP (TGT): Free Stock Analysis Report
WHOLE FOODS MKT (WFM): Free Stock Analysis
Report
WAL-MART STORES (WMT): Free Stock Analysis
Report
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