{"id":1021138,"date":"2021-11-16T20:59:23","date_gmt":"2021-11-17T01:59:23","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1021138"},"modified":"2021-11-16T20:59:26","modified_gmt":"2021-11-17T01:59:26","slug":"walmart-bypasses-supply-chain-crisis-sees-revenues-rise","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/walmart-bypasses-supply-chain-crisis-sees-revenues-rise\/","title":{"rendered":"Walmart Bypasses Supply Chain Crisis, Sees Revenues Rise"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fwalmart-bypasses-supply-chain-crisis-sees-revenues-rise%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1021138&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Walmart revealed that its sales grew significantly over the past three months as it successfully handled inflation and bypassed the supply chain crisis.<\/p>\n<p>On Tuesday, the retail giant <a href=\"https:\/\/corporate.walmart.com\/media-library\/document\/q3-fy22-earnings-release\/_proxyDocument?id=0000017d-256d-d644-a5fd-b5ff102c0000\">reported<\/a> a 9.2% increase in sales between its third quarters in 2020 and 2021. Total revenue likewise increased 4.3% to $140.5 billion.<\/p>\n<p>\u201cOur momentum continues with strong sales and profit growth globally. Our omni-channel focus is pushing digital penetration to record levels,\u201d explained Walmart chief executive Doug McMillon. \u201cWe gained market share in grocery in the U.S., and more customers and members are returning to our stores and clubs around the world. Looking ahead, we have the people, the products, and the prices to deliver a great holiday season for our customers and members.\u201d<\/p>\n<p><a href=\"https:\/\/www.nytimes.com\/live\/2021\/11\/16\/business\/news-business-stock-market#walmart-3q-2021-earnings\">The New York Times<\/a> explained that Walmart has been able to bypass supply chain bottlenecks challenging its competitors:<\/p>\n<p>In recent months, the company began chartering its own ships to circumnavigate the shipping congestion and has been pushing to hire 150,000 additional workers ahead of the holidays. The company said on Tuesday that it was managing supply chain issues by rerouting products to less congested ports and extending overnight hours to help unload cargo\u2026<\/p>\n<p>Some of its competitors have reported problems with empty shelves and spotty inventory, but Walmart noted that its inventory in the United States was 11.5 percent higher heading into the holiday season.<\/p>\n<p>Though Walmart has been able to mitigate them, supply chain issues \u2014 driven by renewed lockdowns in developing Asian economies and labor shortages in the United States \u2014 are indeed threatening firms attempting to stock shelves and move inventory.<\/p>\n<p>\u201cSome of these companies actually will not be able to ship units. And if they can\u2019t ship units, they might disappoint on their earnings,\u201d <a href=\"https:\/\/www.dailywire.com\/news\/seasoned-investor-worries-supply-chain-crisis-will-last-until-2023\">explained<\/a> investor Paul Meeks to CNBC. \u201cTheir stocks are so expensive that they could go down. Not go down a bit, they could go down a lot.\u201d<\/p>\n<p>\u201cIt\u2019s a bummer and unfortunately, there\u2019s not any relief,\u201d he added. \u201cIt\u2019ll also hit the top and bottom lines of some of these vendors that are selling those hot Christmas products.\u201d<\/p>\n<p>Meeks believes that the bottlenecks may last until 2023. As of November 10, a record 111 vessels were <a href=\"https:\/\/www.dailywire.com\/news\/supply-chain-crisis-worsens-number-of-ships-off-california-coast-hits-new-record\">waiting<\/a> to unload merchandise in Los Angeles and Long Beach ports.<\/p>\n<p>Chief financial officer Brett Biggs <a href=\"https:\/\/www.cnn.com\/2021\/11\/16\/investing\/walmart-earnings\/index.html\">said<\/a> during a call with analysts that sales were aided by government stimulus checks and higher grocery prices. Walmart, however, is not the only firm to see higher<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Walmart revealed that its sales grew significantly over the past three months as it successfully handled inflation and bypassed the supply chain crisis.On Tuesday, the retail giant reported a 9.2% increase in sales between its third quarters in 2020 and 2021. Total revenue likewise increased 4.3% to $140.5 billion.\u201cOur momentum continues with strong sales and profit growth globally. Our omni-channel focus is pushing digital penetration to record levels,\u201d explained Walmart chief executive Doug McMillon. \u201cWe gained market share in grocery in the U.S., and more customers and members are returning to our stores and clubs around the world. Looking ahead, we have the people, the products, and the prices to deliver a great holiday season for our customers and members.\u201dThe New York Times explained that Walmart has been able to bypass supply chain bottlenecks challenging its competitors:In recent months, the company began chartering its own ships to circumnavigate the shipping congestion and has been pushing to hire 150,000 additional workers ahead of the holidays. The company said on Tuesday that it was managing supply chain issues by rerouting products to less congested ports and extending overnight hours to help unload cargo\u2026Some of its competitors have reported problems with empty shelves and spotty inventory, but Walmart noted that its inventory in the United States was 11.5 percent higher heading into the holiday season.Though Walmart has been able to mitigate them, supply chain issues \u2014 driven by renewed lockdowns in developing Asian economies and labor shortages in the United States \u2014 are indeed threatening firms attempting to stock shelves and move inventory.\u201cSome of these companies actually will not be able to ship units. And if they can\u2019t ship units, they might disappoint on their earnings,\u201d explained investor Paul Meeks to CNBC. \u201cTheir stocks are so expensive that they could go down. Not go down a bit, they could go down a lot.\u201d\u201cIt\u2019s a bummer and unfortunately, there\u2019s not any relief,\u201d he added. \u201cIt\u2019ll also hit the top and bottom lines of some of these vendors that are selling those hot Christmas products.\u201dMeeks believes that the bottlenecks may last until 2023. As of November 10, a record 111 vessels were waiting to unload merchandise in Los Angeles and Long Beach ports.Chief financial officer Brett Biggs said during a call with analysts that sales were aided by government stimulus checks and higher grocery prices. Walmart, however, is not the only firm to see higher sales as a result of inflation. On Tuesday, the United States Census Bureau announced that American retail and food services sales rose by 1.7% between September and October \u2014 signaling that consumers are willing to absorb inflation as the economy continues to recover from COVID-19 and the lockdown-induced recession.Goya Foods CEO Bob Unanue likewise revealed that his company would hike prices to deal with higher costs, which are in part driven by the supply chain issues.\u201cWe bring products like coconut water from Thailand [and] from Vietnam and a container with about 1300 cases of coconut water in it used to cost about $1800, $1.40 a case; it\u2019s gone up to $20,000 to get on a container ship if you can,\u201d he told Fox Business.\u00a0The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a member.<\/p>\n","protected":false},"author":99,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1021138","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1021138","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/99"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1021138"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1021138\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1021138"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1021138"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1021138"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}