Walmart’s moves will bring long-term benefits, says Jefferies analyst Corey Tarlowe.
Walmart Inc.’s move to open new Sam’s Club locations and its latest round of wage increases for U.S. associates are positive moves by the retailer, says Jefferies analyst Corey Tarlowe.
Early Thursday the retail behemoth said it plans to open over 30 new Sam’s Clubs across the U.S. over the next several years, with the first opening in Florida in 2024. Sam’s Club will launch five new supply chain fulfillment and distribution centers in 2023, with the first location planned in Georgia in the third quarter, Walmart WMT said. Sam’s Club is part of the retailer’s membership-based warehouse division.
See Now: Walmart to open new Sam’s Club in Florida in 2024, more than 30 new clubs in next several yearsEarlier this week Walmart also announced minimum wage increases for hourly employees, ranging from $14 an hour for Supercenter employees to $16 an hour for those working in fulfillment centers. Walmart also raised its minimum wage for hourly Sam’s Club employees to $15 an hour.
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