Walmart's (WMT) Built for Better Amps Up Sustainability Strategy
Walmart (WMT) launches Built for Better, a digital shopping destination, to help customers shop for sustainable products. The platform is available on...
Walmart Inc. WMT is committed toward providing great brands to customers at affordable prices. Moving along these lines, the retail behemoth launched a digital shopping destination — Built for Better — to help customers shop for products that promote personal well-being, with minimal impact on the environment. Consumers can shop from this platform on Walmart.com as well as through the Walmart app. Shoppers can use various pickup and delivery options offered by Walmart, while shopping from the Built for Better platform.
Shoppers can find items listed in two areas — Built for Better - For You and Built for Better - For the Planet. Under the Built for Better - For You category, customers can find food items and everyday essentials that adhere to various standards related to personal well-being — like EWG Verified, Great for You, Standard 100 by OEKO-TEX, made without parabens among others. Built for Better - For the Planet will feature sustainably sourced and climate conscious products that have lower environmental impact. Products under the category are based on over 30 independent standards like Rainforest Alliance Certified, Energy Star Certified and Better Cotton Initiative among others.
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Through this move, Walmart hopes to move a step closer toward its sustainability strategy and commitment to become a regenerative company. The company is striving to source responsibly, sell sustainable products as well as stop waste and emissions.
What Else Should You Know?
Walmart has undertaken major strides to strengthen its delivery arm, as evident from its investment in DroneUp; pilot with HomeValet, the introduction of Carrier Pickup by FedEx, launch of Walmart+ membership program; drone delivery pilots in the United States with Flytrex and Zipline; and a pilot with Cruise to test grocery delivery through self-driven all-electric cars. The company’s store and curbside pickup options add to customers’ convenience. As of the second quarter of fiscal 2022, Walmart U.S. had 3,900 pickup locations and 3,250 same-day delivery stores.
Walmart’s e-commerce business and omni-channel penetration have been increasing, despite the pandemic-led social distancing. The company has been pursuing several e-commerce initiatives that include buyouts, alliances as well as improved delivery and payment systems. It is striving to expand in the booming online grocery space, which has long been a major contributor to e-commerce sales. U.S. e-commerce sales rose 6% in the fiscal second quarter and soared 103% on a two-year stack basis. Management projects global e-commerce sales of $75 billion for fiscal 2022. This is likely to strengthen the company’s omnichannel status.
The Zacks Rank #2 (Buy) company’s shares have increased 5.2% in the past three months compared with the industry’s rise of 4.7%.
Solid Retail Picks
The Kroger Co. KR, which currently carries a Zacks Rank #2, has a long-term earnings growth rate of 8.9%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Kohl’s Corporation KSS, which currently sports a Zacks Rank #1, has a long-term earnings growth rate of 8%.
Costco Wholesale Corporation COST, which currently carries a Zacks Rank #2, has a long-term earnings growth rate of 9.3%.
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