Walmart

Ticker WMT

Today's data summary

Market closed
% change
+0.39%
Price US dollars
109.07
Change
+0.42
As of 15:30 16 Jun 2019
Market cap. US dollars
312,717.28 million
As of 15:30 16 Jun 2019

Latest updates

Walmart 'considering Asda flotation'

Bloomberg Business retail reporter tweets...

Bloomberg

Walmart raises minimum age for buying tobacco

Walmart supermarket
AFP

Walmart has written a letter to the US Food and Drug Administration (FDA) stating that it is raising the minimum age for purchasing tobacco products to 21.

Additionally, Walmart is also going stop selling fruit and dessert-flavoured e-cigarettes, after the FDA threatened to fine several supermarket and convenience store chains across the US for illegally selling tobacco products to minors.

At the time, FDA said that Walmart violated inspections for illegally selling tobacco products to minors by a rate of 17%.

Walmart said it would take steps to prevent minors from buying tobacco products, including improving its age verification training for staff by using virtual reality software.

Walmart sales up

walmart logo
Getty Images

Walmart - which currently owns Asda - has said its sales rose 4.2% in the fourth quarter.

That is more than analysts had been expecting.

Total revenue in the fourth quarter was $138.8bn, an increase of $2.5bn, or 1.9%.

Its shares were up 4% in pre-market trading.

Good Morning

Welcome to today's Business Live page, we'll be with you throught the day.

Coming up at 8am we're expecting official confirmation from Honda about the closure of its Swindon car plant in 2022, with the loss of about 3,500 jobs.

At 9.30am we'll discover the latest Office for National Statistics unemployment figures for January.

Before then in company announcements there'll be Walmart and Asda quarter four figures, and interims from BHP Billiton and the International Hotel Group, with HSBC already having issued disappointing annual results this morning.

Please get in touch with your comments at bizlivepage@bbc.co.uk.

Asda and co should 'pay their staff fairly'

Our clients are obviously delighted to have won this major victory against Asda and we now hope that rather than continuing to spend huge sums of money thwarting attempts to pay their staff what they are worth, Asda and the other major supermarkets pay their staff fairly as these workers are also their customers and fair wages benefit all businesses and UK society in general. We call on Wal-Mart to lead the change for those hard-working store staff who are their workers and the public face of Asda."

Linda WongAssociate solicitor at Leigh Day

Asda workers win first stage of equal pay battle

Asda logo
Getty Images

Asda store staff can compare themselves to warehouse workers, the Court of Appeal has ruled.

Asda, which is owned by US retail giant Wal-Mart, had appealed against two previous rulings which found that lower paid shop workers, who are mostly women, can compare themselves to higher paid workers in Asda’s distribution centres, who are mostly men.

Law firm Leigh Day, which is representing Asda workers, said equal pay cases have three main stages.

Firstly, deciding whether are roles are comparable. Secondly, whether they are equal value, and thirdly, is there a reason other than discrimination which means roles shouldn't have equal pay?

Retail giants face action over lead in toys

Walmart shopping trolley
Getty Images

New York state authorities have announced a lawsuit against retail giants Walmart and Target for selling Chinese-made toys that had up to 10 times the legal limit of lead, according to the AFP news agency.

The lawsuit seeks up to $6,000 in penalties for each of the thousands of Cra-Z-Jewelz jewellery kits the retailers and importer LaRose Industries sold from 2015 to 2016 before they were recalled.

"No parent should have to worry that their child's toy may be toxic. As we allege, these companies imported and sold toys with dangerous levels of toxic lead," New York Attorney General Barbara Underwood said in a statement.

The retailers said they removed the toys from store shelves as soon as they were notified of the safety issues.

"We take our customers' safety seriously and require our suppliers to meet all safety standards," Walmart said in a statement to AFP. Target, which pulled the product voluntarily, told AFP in a statement: "We're committed to providing high quality and safe products to our guests and we require all of our vendors to follow safety laws... for the products they sell at Target."

LaRose has already adopted a number of measures to ensure imported toys do not contain dangerous amounts of lead.