NEW YORK – Walmart became a lifeline to millions of people as the coronavirus spread and its profit and sales surged during the first quarter, topping almost all expectations.
Online sales jumped 74%, fueled by a rush on canned foods, paper towels and other supplies as people sheltered in place. The company said Tuesday that same-store sales surged 10% at U.S.
Walmart stores. But costs soared as well, $900 million in all related to the pandemic. Cash bonuses issued to all hourly workers reached $755 million and Walmart upped pay by $2 per hour at its warehouses.
It rolled out an emergency leave policy and spent on shields at checkout lines, as well as new signage to control the flow of customers in stores.
Read more on clickorlando.com