WALMART INC.

(WMT)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Local Chinese Regulator Opens Probe Into a Walmart Store Over Food-Safety Issues

01/17/2022 | 12:42am EDT

By Yifan Wang

A local Chinese regulator said it has started a probe into a Walmart Inc. store over food-safety issues, the latest step by Beijing to step up scrutiny of the U.S. retailer amid rising geopolitical tensions between Beijing and Washington.

The Bureau for Market Regulation in the southwestern city of Chengdu on Sunday said it has launched an investigation into the Sam's Club store in the Jinniu district.

Sam's Club is a popular members-only wholesale retail chain that has been a business focus and key growth driver for Walmart in China.

The probe followed consumer complaints about spoiled beef, the regulator, a local branch of China's top market watchdog, said in a statement posted on social media.

After initial sample checks, the regulator found that the product didn't meet relevant standards, and has ordered the store to recall all products from the same batch, it said.

The regulator said it also found improper practices such as a lack of comprehensive protocols and overly high room temperatures at the store.

Walmart on Monday didn't immediately respond to a request for comment.

Walmart, the world's largest retailer, has faced particularly heightened scrutiny in China over recent weeks, after the passage of a U.S. law that virtually bans all imports from the northwestern Chinese region of Xinjiang over forced-labor and human-rights concerns.

Last week, authorities and state media drew attention to a roughly $50,000 fine against Walmart in 2021, an unusual move by regulators to publicly highlight small fines for past infractions.

In late December, the Bentonville, Ark.-based retailer attracted anger on Chinese social media as internet users asserted that Walmart had stopped stocking products from Xinjiang. Social-media accounts run by Communist Party-backed entities weighed in to criticize the company.

The spotlight on Walmart came after President Biden in December signed the Uyghur Forced Labor Prevention Act into law, which bans all imports to the U.S. from Xinjiang unless companies can certify that such products are free from forced labor.

China has rejected allegations of genocide and forced labor, describing their policies in the region as aimed at preventing terrorism and protecting national security.


Write to Yifan Wang at yifan.wang@wsj.com


(END) Dow Jones Newswires

01-17-22 0042ET

All news about WALMART INC.
05/27U.S. retailers' ballooning inventories set stage for deep discounts
RE
05/27Big Lots Warns of Further Inflation Hit After Posting Surprise Quarterly Loss, Weaker S..
MT
05/27WALL STREET STOCK EXCHANGE : Wall Street on track to end the week in the green
05/26Costco margins hit by rising freight and labor costs, shares slip
RE
05/26U.S. retailer earnings show chasm among shoppers as inflation surges
RE
05/26WALL STREET STOCK EXCHANGE : U.S. labor market hot, but declining profits cast shadow ove..
RE
05/26Macy's Raises Full-Year Profit View After Spending Shift, Foot Traffic Drive Quarterly ..
MT
05/26Dollar General Raises Annual Sales View After Shrugging Off Inflation, Supply Woes With..
MT
05/26Retailers' troubles sound the alarm for rest of economy
AQ
05/25Retail Stocks Bounce After Earnings Selloff
DJ
More news
Analyst Recommendations on WALMART INC.
More recommendations
Financials (USD)
Sales 2023 593 B - -
Net income 2023 16 007 M - -
Net Debt 2023 40 466 M - -
P/E ratio 2023 22,0x
Yield 2023 1,75%
Capitalization 354 B 354 B -
EV / Sales 2023 0,67x
EV / Sales 2024 0,63x
Nbr of Employees 2 300 000
Free-Float 52,3%
Chart WALMART INC.
Duration : Period :
Walmart Inc. Technical Analysis Chart | WMT | US9311421039 | MarketScreener
Technical analysis trends WALMART INC.
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 38
Last Close Price 128,48 $
Average target price 155,30 $
Spread / Average Target 20,9%
EPS Revisions
Managers and Directors
C. Douglas McMillon President, Chief Executive Officer & Director
Brett M. Biggs Executive VP & CFO-Walmart International
Gregory B. Penner Non-Executive Chairman
Clay Johnson Enterprise Chief Information Officer & EVP
Jerry R. Geisler Chief Information Security Officer & Senior VP
Sector and Competitors
1st jan.Capi. (M$)
WALMART INC.-12.92%353 677
SYSCO CORPORATION7.55%43 041
KROGER17.01%38 181
LOBLAW COMPANIES LIMITED11.99%30 322
WOOLWORTHS GROUP LIMITED-10.10%29 548
AHOLD DELHAIZE N.V.-14.57%27 511