- Walmart Inc WMT believes about 65% of its branches will be served automatically by the end of the 2026 financial year.
- The company said about 55% of fulfillment center volume is routed through automated facilities, and average unit costs could improve by about 20%.
- The remark comes just days after the news broke Cut 2,000 jobs in its e-commerce warehouses.
- “As the changes are implemented across the company, one of the results is roles that require less physical labor but have higher pay,” the company said in a statement.
- outlook: The retailer also reiterated its FY24 sales growth guidance of 2.5% to 3% and Q1 guidance of 4.5% to 5% growth in CC.
- Walmart will outline at its two-day 2023 investment community meeting how the company expects its growth investments to transform its financial profile.
- John David Rainey, Walmart’s executive vice president and CFO, said, “Looking at where we are today, we believe that revenue growth of approximately 4% and faster growing operating income are reasonable goals for our business going forward 3-5 years.”
- price action: WMT shares closed down 0.98% at $147.23 on Tuesday.
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