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WALMART INC.

(WMT)
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Walmart to pay college, book costs for full and part-time staff

07/27/2021 | 10:40am EDT
FILE PHOTO: Walmart administers COVID-19 vaccines as part of Federal Retail Pharmacy Program in West Haven

NEW YORK (Reuters) - Walmart Inc on Tuesday said it will pay the full cost of college tuition and books for its roughly 1.5 million full and part-time employees, effective Aug. 16.

The largest private U.S. employer said it will drop the current $1 a day fee paid by associates at Walmart and its subsidiary Sam's Club.

Consumer demand is soaring as the U.S. economy reopens from the COVID-19 pandemic, deepening a national labor crunch. Employers are adding benefits and boosting wages as they struggle to find and keep enough workers, particularly in retail and restaurants.

Walmart has been criticized for years because thousands of its workers are below the poverty line, and it has also been rapped for paying less than rivals including Amazon.com, Kroger and Target.

In February, Walmart said it would raise average pay for U.S. hourly workers to at least $15.25 an hour.

Then in March, the world's biggest retailer said it would further boost pay for its hourly workers on the U.S. east and west coasts, where the cost of living is higher and competition for labor among retailers more intense.

Nearly 28,000 employees have been active in Walmart's educational programs this summer alone and 8,000 have graduated since it began in 2018 to offer college degrees, skills training and other certificate programs, the company said.

The company also said Tuesday its educational offerings are tied to its growth areas, and that it will add programs in business administration, supply chain and cybersecurity.

(Reporting by Hilary Russ in New York; Editing by Franklin Paul and Bernadette Baum)

By Hilary Russ


ę Reuters 2021
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Analyst Recommendations on WALMART INC.
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Financials (USD)
Sales 2022 559 B - -
Net income 2022 14 892 M - -
Net Debt 2022 30 602 M - -
P/E ratio 2022 26,9x
Yield 2022 1,54%
Capitalization 399 B 399 B -
EV / Sales 2022 0,77x
EV / Sales 2023 0,75x
Nbr of Employees 2 300 000
Free-Float 50,5%
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Walmart Inc. Technical Analysis Chart | WMT | US9311421039 | MarketScreener
Technical analysis trends WALMART INC.
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Mean consensus BUY
Number of Analysts 37
Last Close Price 143,17 $
Average target price 168,05 $
Spread / Average Target 17,4%
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Managers and Directors
C. Douglas McMillon President, Chief Executive Officer & Director
Brett M. Biggs Chief Financial Officer & Executive Vice President
Gregory B. Penner Non-Executive Chairman
Clay Johnson Enterprise Chief Information Officer & EVP
Jerry R. Geisler Chief Information Security Officer & Senior VP
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