New-job growth isn't happening quickly enough for the commercial real estate industry, but Walmart plans to buck the national trend. The retailer plans to add 500,000 jobs over the next five years, executives revealed at the company's recent annual investor meeting.
Granted, most of those jobs might get filled overseas, as that's where the majority of Walmart's growth is taking place nowadays. But people are apparently looking to work at the company's stores. Management said it received a whopping 13 million job applications over the last two years, according to Reuters.
Meanwhile, the audience at the meeting was entertained by Jamie Foxx, who said he spends a lot of time at the makeup counter in Walmart "to hang out with my girlfriends." He performed live, as did singers Mariah Carey and Mary J. Blige.
Besides the growth initiative and entertainment, executives admitted they need to ramp up sales at domestic stores and increase memberships at its Sam's Club units. Do you see Walmart's sales improving, or is the consumer finally ready to shop at other retailers in this environment?
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.