How Walmarts are making $10 billion in sales with their hoops
A Walmart chain is making more money than its competitors by selling more hoops than any other major retailer.
The company has just over half of the NBA-leading league’s merchandise on its shelves.
Walmart’s success comes despite its $1.3 billion in revenue in the quarter that ended March 31.
Thats an increase of almost 70% over the previous year.
The NBA sold more than $2 billion worth of merchandise in the same period, a big increase over the year-ago quarter.
In fact, the NBA is on track to break its previous record for the most merchandise sold in a single quarter by a single retailer.
Walmarts sales are growing faster than the economy as a whole.
The US is on pace to record its largest annual increase in employment since the recession, according to a report by the Bureau of Labor Statistics.
Wal-Mart’s revenue surged by more than 30% last year, outpacing even the biggest tech companies like Google, Facebook and Amazon.
The chain’s revenues are expected to top $5 billion this year.
WalMart CEO Doug McMillon said last year the company is going to be more profitable than its predecessor, Wal-Mart Stores Inc.
The business has been growing at a blistering rate in recent years.
The company is expected to report $9 billion in profit this year, a huge jump from the $2.3 trillion it reported in the second quarter.
The growth in sales comes despite the fact that the company has faced stiff competition from online competitors such as Amazon.com Inc., which launched a series of e-commerce sites in the past two years.
The online giant has made it easy for customers to shop for the merchandise at its warehouses and have a variety of products, from apparel to household products.
It has also begun using robots and artificial intelligence to make products.
Walmer’s business has grown faster than any major retailer, with sales growing at more than 50% annually from 2000 to 2014, according in a study by research firm IBISWorld.
The retailer has long been the target of antitrust concerns.
In 2016, it filed a complaint with the Federal Trade Commission alleging that its e-Commerce business, which includes online retailing, is being used as a monopoly by rivals.
Walman has also faced criticism from the National Basketball Association, the world’s largest professional basketball league.
In June, the league announced a $20 million settlement with the company.
Walmarre has faced growing criticism in recent months for its treatment of employees and its pay.
The sports apparel chain recently fired nearly 1,000 employees for poor performance.
In recent months, the company was also sued by the government and other companies over allegations that it retaliated against employees for speaking out against its abusive practices.
The Justice Department is currently investigating whether the company violated antitrust laws.
