Latest news with #Walmart
CTV News
41 minutes ago
- Business
- CTV News
Procter & Gamble hikes U.S. prices amid tariff challenges, CEO change
Procter & Gamble on Tuesday forecast annual results largely below estimates and said it would raise prices on some products in the U.S., a day after naming insider Shailesh Jejurikar as CEO to steer it through tariff uncertainty. The consumer goods bellwether's shares were down 1.2 per cent in volatile early trading. P&G, which topped fourth-quarter estimates, said it would raise prices on about a quarter of its products in the U.S., starting this month, to help offset the cost of new tariffs imposed by U.S. President Donald Trump. The price hikes have been communicated to retailers such as Walmart and Target and are in the mid-single digits across categories, a spokesperson said, and will be seen on shelves starting in August. P&G expects fiscal 2026 annual net sales growth of between one and five per cent, largely below estimates of a 3.09 per cent growth. Market growth slowed from where it was at the start of the year in both the U.S. and in Europe, and volatile macroeconomic, geopolitical and consumer dynamics were resulting in headwinds that were not anticipated at the start of the year, CFO Andre Schulten said during a call with journalists. 'The consumer clearly is more selective in terms of shopping behavior in our categories and we see a desire to find value either by going into larger pack sizes in club channel or online or big box retailers or by lowering the cash outlay,' Schulten said. The comments from the world's largest consumer goods maker reinforce how consumers, particularly in the lower-income category, are seeking value as they look to stretch their household budgets. Packaged food maker Nestle said last week that consumers in North America remained weak. Still, organic sales grew about two per cent in fiscal 2025, driven by P&G's portfolio of branded pantry staples, as well as higher pricing, particularly for fresher products. 'Given the immense pressure put on U.S. consumers in particular, the organic growth is a very good sign that long-term earnings projections should hold up,' said Brian Mulberry, portfolio manager at Zacks Investment Management. P&G, which makes household basics spanning from Bounty paper towel to Metamucil fiber supplements, estimated tariffs will increase its costs by about US$1 billion before tax for fiscal 2026. That compares with projections of between US$1 billion and US$1.5 billion made in April. The company rolled out a restructuring effort in June to exit some brands and cut about 7,000 jobs over the next two years to increase productivity. Prices rose about one per cent in the fourth quarter, while volumes were flat. P&G expects fiscal 2026 core net earnings per share growth in the range of US$6.83 and US$7.09, compared with estimates of US$6.99, according to estimates compiled by LSEG. For the three months ended June 30, the company's revenue rose to US$20.89 billion, topping estimates of US$20.82 billion, while core profit of US$1.48 per share also beat expectations. --- Reporting by Juveria Tabassum in Bengaluru and Jessica DiNapoli in New York; Editing by Sriraj Kalluvila
Al Jazeera
an hour ago
- Business
- Al Jazeera
Procter and Gamble to raise prices to offset tariff costs
Procter & Gamble has said it will need to raise prices on a quarter of the goods it sells in the United States starting this month in order to mitigate costs it has faced because of the tariffs imposed by US President Donald Trump. On Tuesday, in conjunction with its earnings report, the world's largest consumer goods maker named Shailesh Jejurikar as its new chief executive officer as the company navigates tariff-driven uncertainty weighing on the sector. The price hikes have been communicated to retailers such as Walmart and Target and are in the mid-single digits across categories, a spokesperson said, and will be seen on shelves starting in August. In May, Walmart also announced that it would need to raise prices on goods sold at the big box retailer because of the economic impact of tariffs. P&G topped fourth-quarter estimates for its earnings report. The Cincinnati, Ohio-based firm reported revenue of $20.89bn for the quarter. Organic sales grew about 2 percent in fiscal 2025, driven by P&G's portfolio of branded pantry staples, as well as higher pricing, particularly for fresher products. But that comes as growth is expected to slow. Growth stalls P&G expects fiscal 2026 annual net sales growth of between 1 percent and 5 percent, largely below estimates of a 3.09 percent growth. Market growth slowed from where it was at the start of the year in both the US and Europe, and volatile macroeconomic, geopolitical and consumer dynamics were resulting in headwinds that were not anticipated at the start of the year, CFO Andre Schulten said during a call with journalists. 'The consumer clearly is more selective in terms of shopping behaviour in our categories, and we see a desire to find value either by going into larger pack sizes in club channel or online or big box retailers or by lowering the cash outlay,' Schulten said. The comments from the company reinforce how consumers, particularly in the lower-income category, are seeking value as they look to stretch their household budgets. Packaged food maker Nestle said last week that consumer spending in North America remained weak. 'Given the immense pressure put on US consumers in particular, the organic growth is a very good sign that long-term earnings projections should hold up,' said Brian Mulberry, portfolio manager at Zacks Investment Management. P&G, which makes household basics spanning from Bounty paper towels to Metamucil fibre supplements, estimated tariffs will increase its costs by about $1bn before tax for fiscal 2026. That compares with projections of between $1bn and $1.5bn made in April. The company rolled out a restructuring effort in June to exit some brands and cut about 7,000 jobs over the next two years to increase productivity. Prices rose about 1 percent in the fourth quarter, while volumes were flat. P&G expects fiscal 2026 core net earnings per share growth in the range of $6.83 and $7.09, compared with estimates of $6.99, according to estimates compiled by LSEG. On Wall Street, the company's stock over the last five days is down 0.5 percent, down 1.1 percent for the month and since the beginning of the year, it has tumbled 5.15 percent.
Newsweek
an hour ago
- Business
- Newsweek
Nationwide Walmart Boycott Planned For August 1: What to Know
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. A nationwide boycott of Walmart, organized by The People's Union USA, is scheduled to begin August 1 and last throughout the month, with the group calling for Americans to halt spending at the retail giant. Newsweek has reached out to Walmart via an online contact form for comment. Why it Matters This latest announcement follows a series of consumer-led economic boycotts following the re-election of President Donald Trump in January. A Walmart sign is displayed outside a Supercenter on November 18, 2024 in Miami, Florida. A Walmart sign is displayed outside a Supercenter on November 18, 2024 in Miami, boycotts have been spearheaded by progressive groups who have expressed a number of concerns over issues including company tax avoidance and workers' rights, in addition to backlash over companies scaling back diversity hiring commitments. What To Know The People's Union USA, led by John Schwartz, known online as TheOneCalledJai is leading the boycott action. The People's Union encourages consumers, where possible, to redirect purchases to small, independent businesses or to delay nonessential shopping for the duration of the boycott. The mission statement from The People's Union USA states: "We are not a political party. We are not a protest. We are a movement of people, organizing to take back control of our economy, government and future of our country." It's not the first time that The People's Union USA has specifically taken action against Walmart. In an April statement about a previous boycott, Schwartz told Newsweek, "We're boycotting Walmart because they've become the symbol of everything that's wrong with corporate power in this country... Our mission is simple, we want these corporations to start paying their fair share of taxes so the American people can finally be relieved of the burden of federal income tax." Unions and advocacy groups are encouraging individuals to vote with their money. Consumer boycotts can have a varied impact on companies. A recent study has shown that there is a significant amount of support for consumer boycotts among Americans, particularly young Americans. A survey from Lending Tree found that 31 percent of U.S. consumers say they have boycotted a business in the past, with Gen Zers being the most likely to participate in a boycott at 37 percent. What People Are Saying Walmart, in an April statement shared with Newsweek: "Serving communities is at the heart of Walmart's purpose to help people save money and live better. As one of the largest corporate taxpayers in the country, not only do we pay our fair share, we are an economic force multiplier strengthening communities nationwide through job creation, supplier growth, and over $1.7 billion in cash and in-kind donations last year, equal to 8 percent of our profit before tax, supporting local charities and causes such as disaster response, hunger relief, workforce development, and conservation. "We remain dedicated to earning the business of all Americans and giving our time and resources to causes that uplift and unite communities who rely on us every day." What Happens Next Boycotts of Lowe's and McDonald's are also planned for August. Boycotts of Amazon, Uber, and Pepsi Co. are planned for September.
CNET
an hour ago
- Business
- CNET
Walmart Deals of the Day: Grab a Top-Rated Beats Speaker for a Record-Low $100
From top tech to household essentials, Walmart sells just about everything you need. And with a little digging, you can probably find it on sale. CNET's dedicated deals team is here to do the legwork for you, and we've rounded up some of the top bargains you can shop every day. For today, July 29, those include a chance to pick up the top-rated Beats Pill Bluetooth speaker at a record-low price, as well as 50% off an eight-piece Carote cookware set and a Tineco LiteVak cordless vacuum. Thanks to its sleek design, the Beats Pill has landed on our list of the best Bluetooth speakers this year. Our reviewer was impressed by its sound quality -- particularly the bass definition, thanks to its new updated woofer system -- as well as the relative volume for its size. The speaker also supports lossless audio with a wired USB-C connection and boasts an IP67 weather-resistance rating, so you can take it just about anywhere. The blue color variant is back down to a record-low price, while the other colors are only available for $20 off. This eight-piece Carote bundle deal is a great way to upgrade your kitchen on a budget. For just $60, you get two frying pans, two sauce pots and a sauté pan with lids. They're all nonstick, which makes them great for delicate ingredients like eggs and fish, but are also "100% free of PFOAs, PFAs, lead, and cadmium," so you don't have to worry about harmful chemicals leaching into your food. The cookware is also designed to be used with just about every type of stove -- be it gas, electric or induction -- so they're also highly versatile. At less than five pounds, this Tineco LiteVak is a much lighter and more maneuverable alternative to bulky corded vacuums. It boasts a respectable 120 Air Watts of suction power and has a built-in HEPA filtration system to help trap smaller particulates. With a 40-minute runtime, it's better for quick jobs and spot cleaning, and also converts to a handheld vacuum for corners, couches and more.
Yahoo
an hour ago
- Business
- Yahoo
Walmart Signs Multi-Year Partnership with Major League Soccer and Leagues Cup to Elevate the Game for U.S. Fans
New collaboration fuels fan culture, expands retail touchpoints and builds momentum ahead of the 2026 World Cup BENTONVILLE, Ark., July 29, 2025--(BUSINESS WIRE)--Walmart (NYSE: WMT) is stepping onto the pitch in a big way. The company today announced a multi-year partnership that makes the retailer an official partner of Major League Soccer (MLS) and Leagues Cup. This collaboration marks a major milestone in Walmart's expanding investment and commitment to celebrating the world's game and deepening connections with one of the most culturally vibrant and fastest-growing fan bases in North America. Power plays on and off the pitch: what fans can expect This partnership is designed with fans at the center—making it more convenient, immersive, and exciting to engage with soccer, wherever and however they follow the game. Through this partnership, Walmart will activate across stadiums, screens and stores to bring fans closer to the action. As an official partner of MLS and Leagues Cup, Walmart will serve fans at every step of the matchday journey, from in-real-life (IRL) experiences to merchandise coming soon, whether they're shopping for gear, hosting a watch party or connecting with their local soccer community. Key highlights of the multi-year partnership include: Leagues Cup Spotlight: Walmart will be front and center for the highly anticipated tournament between clubs from MLS and LIGA MX. Kicking off today and culminating in the final on August 31, this year's edition features a new two-phase format and 18 clubs from both leagues—bringing more top-tier soccer to fans across North America. Walmart's partnership means more activations and opportunities for fans to get in on the action. Dedicated Programming on Saturdays: Major League Soccer and Walmart share a commitment to enhancing the fan experience and growing the cultural impact of the game. As part of that shared vision, beginning in 2026, Saturdays will feature elevated storytelling designed to spotlight unmissable marquee matchups and further enhance how fans connect with MLS across platforms. Additional details will be shared ahead of launch. Creator Network: Storytelling Beyond the 90 Minutes: Soccer stories don't end at the final whistle. MLS is launching a custom creator network — bringing together cultural influencers, designers, players and teams to deliver exclusive behind-the-scenes content and highlight how Walmart is dedicated to soccer's ever-expanding place. Multi-Channel Fan Engagement: Walmart is connecting with fans wherever they are, whenever they want. Expect digital and in-real-life (IRL) experiences at rivalry matches, tentpole events and community activations, plus branded integrations and national media moments that make every matchday unforgettable. "Soccer is more than a sport — it's a culture and a community, and one that's growing rapidly in the U.S.," said William White, chief marketing officer at Walmart. "Walmart is focused on celebrating the game and making it more personal for fans. It's about celebrating the passion of soccer lovers and creating opportunities for them to connect with the game they love. By partnering with MLS and the Leagues Cup, we're not just supporting soccer—we're empowering fans to shape its future in the U.S." A fast-growing game, and a fanbase to match Major League Soccer is already home to the youngest and most diverse fan base in North American pro sports, and with the 2026 World Cup on the horizon, soccer's rise shows no signs of slowing down. Walmart's investment reflects a long-term commitment to supporting the sport's future in the U.S., starting at the grassroots level and building all the way to the global stage. "MLS is at the forefront of a cultural movement that's redefining sports fandom in North America," said Carter Ladd, MLS EVP, Chief Revenue Officer. "The partnership with Walmart reflects our shared commitment to reaching fans in fresh, authentic ways. Together, we're building pathways to connect with our diverse, passionate, and digitally native MLS fans through storytelling, experiences, and retail moments that reflect the evolving identity of the soccer community." Everything Fans Need, All in One Place To help fans gear up, Walmart has launched a curated shopping hub filled with everything from tailgate essentials to team merch. The site will evolve throughout the season to reflect fan favorites, tournament timelines and exclusive offerings tied to upcoming matchups. Because fandom doesn't end at the final whistle — and neither does Walmart's commitment to the customers who live it. About Walmart Walmart Inc. (NYSE: WMT) is a people-led, tech-powered omnichannel retailer helping people save money and live better - anytime and anywhere - in stores, online, and through their mobile devices. Each week, approximately 270 million customers and members visit more than 10,750 stores and numerous eCommerce websites in 19 countries. With fiscal year 2025 revenue of $681 billion, Walmart employs approximately 2.1 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy, and employment opportunity. Additional information about Walmart can be found by visiting on Facebook at on X (formerly known as Twitter) at and on LinkedIn at About Major League Soccer Headquartered in New York City, Major League Soccer -- celebrating its 30th season in 2025 -- features 30 clubs throughout the United States and Canada. All MLS, Leagues Cup, and select MLS NEXT Pro and MLS NEXT matches can be watched through MLS Season Pass, available on the Apple TV app on Apple devices, smart TVs, streaming devices, set-top boxes, and game consoles, and the web at MLS Season Pass features the most expansive and accessible lineup of programming ever for MLS fans. For more information about MLS, visit For more information about the Apple TV app, visit About Leagues Cup Entering its third year, Leagues Cup represents a monumental new chapter for North American club soccer. Since 2023, Major League Soccer and LIGA MX have fueled the long-standing soccer rivalry between the three countries and its first division leagues to compete in this Concacaf-sanctioned summer cup, which qualifies the top three finishers for the Concacaf Champions Cup. Fans in over 100 countries and regions will be able to watch Leagues Cup on MLS Season Pass on Apple TV. In addition, TelevisaUnivision, FOX Sports, TSN, and RDS will be the linear broadcast home for select Leagues Cup matches. View source version on Contacts press@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
