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Walmart Health wasn’t working, Walmart.com is

Walmart keeps trying new things: many don’t work, but the company’s e-commerce efforts are booming

5/1/24 11:13AM

Likes: trying new things

Giant corporations with 2 million+ employees aren’t known for their willingness to try new things, but Walmart has been doing its best impression of a smaller, more nimble company this week, announcing both a new private-label food brand and a virtual shopping experience with immersive gaming platform Roblox.

Dislikes: losing money

On the other hand, news also broke yesterday that Walmart will be shutting down its 51 health care clinics and telehealth services, citing “escalating operating costs” and a "lack of profitability” at the 5-year-old initiative.

This demonstrable willingness to cut ties with projects that aren’t working, and divert resources to areas that are, has been rewarded by investors: WMT shares are flirting with an all-time high, as its e-commerce business in particular continues to fly.

Despite launching Walmart.com in 2000, it took 16 years and the acquisition of Jet.com for the retailer to get serious about selling online. Since then, it’s doubled down aggressively, with multiple acquisitions and website redesigns — edging ever closer to Amazon and other behemoths in the digital aisles.

Indeed, Walmart's online sales over the last 5 years track on a broadly comparable trajectory to Amazon's from 2007 to 2012, growing to more than $19 billion in the latest quarter. Walmart's core US grocery division grew at a steady 7% last year, while its e-commerce segment managed 22% year-on-year growth. A successful partnership with Roblox, in which players will be able to buy real-life items from within a digital replica of a Walmart store, could keep the growth train running.

Although Walmart's growth is certainly less groundbreaking than Amazon’s — online shopping isn’t exactly exciting tech anymore — it’s given the retailer a new lease of life and opened the doors to an even more lucrative source of revenue: advertising.

Nia Warfield10h

Starbucks issues apology after viral “Bearista” cup meltdown

Holiday cheer turned into chaos this week for Starbucks after the coffee giant’s new “Bearista” holiday cup sent fans into a frenzy.

Dropped alongside its 2025 holiday menu, the $30 beanie-wearing glass bear tumbler sparked long lines, sellouts, and even in-store scuffles before Starbucks stepped in with an apology.

“The excitement for our merchandise exceeded even our biggest expectations,” the company said in a statement to People. “Despite shipping more Bearista cups to our coffeehouses than almost any other item this holiday season, the Bearista cup and some other items sold out fast.”

Within hours of launch, frustrated fans flooded Starbucks’ social media pages and even store hotlines. Some customers waited in line before dawn and others said their stores received only a handful of cups. In one Houston location, the craze even turned physical, with police reportedly called to break up a brawl. Meanwhile, the cup is already reselling on sites like eBay, with listings topping $600.

“We understand many customers were excited about the Bearista cup and apologize for the disappointment this may have caused,” Starbucks said. While in-store customers may be upset, investors seem happy about the viral hit, as the stock has risen over 3% on Friday.

If you’re still hoping for a Bearista at market price, that may not be on order: the chain didn’t disclose how many cups were made or whether a restock is planned.

Hyunsoo Rim11h

Target tells workers to smile, wave, and greet shoppers if they come within 10 feet of them

Target just rolled out a new rule for store employees: “smile, make eye contact, and greet or wave” when a shopper comes within 10 feet — and if they get closer, within four feet, “ask whether they need help or how their day is going,” according to a new Bloomberg report.

Dubbed the “10-4 program” internally, the rule mirrors rival Walmart’s own 10-foot policy, formalizing behavior Target had previously only encouraged.

Target Mandates Worker Smiles, Friendliness to Boost Sales

Hyunsoo Rim

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Monster surges on energy drink buzz, while Celsius sinks on distribution concerns

Shares of Monster Beverage climbed 5% after the bell on Thursday, and held most of those gains into early trading on Friday, following strong Q3 results.

The energy drink giant topped market expectations, with quarterly sales up 17% year over year to $2.2 billion and adjusted net profits growing 41% to $524.5 million — 11% ahead of Wall Street’s estimates. In the report, Monster highlighted its zero-sugar line and new product launches, with a stack of novel flavors already released this year, as bright spots.

During a call with analysts, Chief Executive Hilton Schlosberg said that the global energy drink category “remains healthy with robust growth,” The Wall Street Journal reported, adding that demand for more affordable caffeinated drinks is rising as coffee has become “really expensive.”

Meanwhile, rival beverage business Celsius saw shares fall as much as 23% on its Q3 results yesterday — despite beating expectations, with revenue jumping 173% — largely due to concerns about a change in the company’s distribution channel, as its newly acquired Alani Nu brand joins the PepsiCo distribution network.

Millie Giles

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