Walmart chases higher profits powered by warehouse robots and automated claws
Publishing timestamp: 2023-04-11 16:53:22
Summary
Walmart is accelerating its use of automation across its supply chain to drive profits higher. The company showcased an automated distribution center in Florida at an investor day, with plans to expand automation to all regional distribution centers. CEO Doug McMillon expects profits to grow faster than sales over the next five years as Walmart adds automation and grows its higher-margin businesses. Other retailers like Kroger and Amazon are also investing in automation.
Sentiment: NEUTRAL
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Source: https://www.cnbc.com/2023/04/11/walmart-warehouse-automation-powers-higher-profits.html