{"id":20029,"date":"2015-05-19T11:45:36","date_gmt":"2015-05-19T15:45:36","guid":{"rendered":"http:\/\/www.ufcw.org\/?p=20029"},"modified":"2020-08-24T19:11:07","modified_gmt":"2020-08-24T19:11:07","slug":"walmart-worker-shareholder-reacts-to-q1-earnings-report","status":"publish","type":"press_releases","link":"https:\/\/www.ufcw.org\/press-releases\/walmart-worker-shareholder-reacts-to-q1-earnings-report\/","title":{"rendered":"Walmart Worker-Shareholder Reacts to Q1 Earnings Report"},"content":{"rendered":"<p>Overview of Walmart&#8217;s first quarter sales report:<\/p>\n<ul>\n<li>WMT reports 1st quarter results below expectations<\/li>\n<li>EPS was $1.03 vs an expected $1.05; revenue was $114 billion vs an expected $116.2 billion<\/li>\n<li>Same store sales of 1.1% at WMT US and just 0.4% at Sam\u2019s Club were below the 1.5% gain expected for both segments<\/li>\n<li>Promised investments in labor were disappointing, and amounted to less than analysts had expected for the quarter<\/li>\n<\/ul>\n<p><strong>OUR Walmart member and Walmart shareholder Teresa Adams of Pico Rivera, Calif., today, issued the following statement in response to Walmart\u2019s Q1 earnings report:<\/strong><\/p>\n<p><em>\u201cWalmart\u2019s weak earnings report this morning is telling, but it\u2019s nothing new for the countless number of associates nationwide who have been calling for a change to the company\u2019s low-road, low-wage business model over the past few years. When workers who are committed to the company\u2019s success can\u2019t secure much-nee<a href=\"https:\/\/www.ufcw.org\/wp-content\/uploads\/2015\/05\/WM-RUS_Fotor.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"  wp-image-20030 alignright\" src=\"https:\/\/www.ufcw.org\/wp-content\/uploads\/2015\/05\/WM-RUS_Fotor.jpg\" alt=\"WM RUS_Fotor\" width=\"290\" height=\"174\" \/><\/a>ded pay and hours, they aren\u2019t the only ones who suffer. Customers lose, and so do shareholders. Shelves aren\u2019t properly stocked. Check-out lines are long. And the company\u2019s reputation takes a hit when its employees don\u2019t make enough money to stay off<\/em><a href=\"https:\/\/mail.www.ufcw.org\/owa\/redir.aspx?C=Je8sIkTh_U-oQK5_KK_lYkC6VkezZdIIgngSgeE0FxHkC6QGPj4GpDP97mOXoNZPSgs5Bvf5uuQ.&amp;URL=http%3a%2f%2fwww.americansfortaxfairness.org%2ffiles%2fTaxpayers-and-Walmart-ATF.pdf\"><em> government assistance programs<\/em><\/a><em>, At a time when Walmart needs to be investing more in its employees and stores, it closes four apparently profitable stores and lays off a reported 2,200 workers, while <\/em><a href=\"https:\/\/mail.www.ufcw.org\/owa\/redir.aspx?C=Je8sIkTh_U-oQK5_KK_lYkC6VkezZdIIgngSgeE0FxHkC6QGPj4GpDP97mOXoNZPSgs5Bvf5uuQ.&amp;URL=http%3a%2f%2fwww.reuters.com%2farticle%2f2015%2f05%2f15%2fus-wal-mart-stores-closure-idUSKBN0O026E20150515\"><em>grasping at straws to justify the move<\/em><\/a><em>. I think it\u2019s no coincidence that OUR Walmart members were active in one of those stores. <\/em><\/p>\n<p><em>\u201cMy fellow OUR Walmart members, like Shannon Henderson who made about $13,000 last year working as many hours as Walmart would let her, and I have been working to offer solutions to the problems that plague the company and its operations. CEO Doug McMillon has <\/em><a href=\"http:\/\/blog.walmart.com\/in-letter-to-associates-walmart-ceo-doug-mcmillon-announces-higher-pay\"><em>responded to one of our demands<\/em><\/a><em> by raising wages for those of us at the bottom of the ladder, but it\u2019s not enough. We all need higher wages and, even more importantly, we need <\/em><a href=\"http:\/\/www.nytimes.com\/2015\/02\/26\/business\/next-goal-for-walmart-workers-more-hours.html?_r=2\"><em>more hours<\/em><\/a><em> for ourselves and for our customers. <\/em><\/p>\n<p><em>\u00a0<\/em><em>\u201cOUR Walmart Associate-shareholders are going to the upcoming Walmart annual shareholder meeting, where we have submitted two shareholder proposals. We are encouraging shareholders to use their votes to rein in executive compensation and incentivize sustainable investment, such as fair wages and more hours for workers. <\/em><\/p>\n<p><em>\u00a0<\/em><em>\u201cIt\u2019s long past time for Walmart and the Waltons to take an honest and candid look at the concerns raised by investors, shareholders and customers. Treating associates with respect and providing adequate staffing and hours are fundamental to putting Walmart on the path to strong sales and success. And that\u2019s the direction Walmart needs to go.\u201d <\/em><\/p>\n<p style=\"text-align: center\">###<\/p>\n<p style=\"text-align: center\"><em>LEGAL DISCLAIMER: UFCW and OUR Walmart have the purpose of helping Wal-Mart employees as individuals or groups in their dealings with Wal-Mart over labor rights and standards and their efforts to have Wal-Mart publically commit to adhering to labor rights and standards. UFCW and OUR Walmart have no intent to have Walmart recognize or bargain with UFCW or OUR Walmart as the representative of Walmart employees.<\/em><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Overview of Walmart&#8217;s first quarter sales report: WMT reports 1st quarter results below expectations EPS was $1.03 vs an expected $1.05; revenue was $114 billion vs an expected $116.2 billion Same store sales of 1.1% at WMT US and just 0.4% at Sam\u2019s Club were below the 1.5% gain expected for both segments Promised investments [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"menu_order":210,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[7,13,15],"tags":[],"class_list":["post-20029","press_releases","type-press_releases","status-publish","format-standard","hentry","category-industries","category-press-releases","category-retail"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Walmart Worker-Shareholder Reacts to Q1 Earnings Report - The United Food &amp; Commercial Workers International Union<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ufcw.org\/press-releases\/walmart-worker-shareholder-reacts-to-q1-earnings-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Walmart Worker-Shareholder Reacts to Q1 Earnings Report - The United Food &amp; Commercial Workers International Union\" \/>\n<meta property=\"og:description\" content=\"Overview of Walmart&#8217;s first quarter sales report: WMT reports 1st quarter results below expectations EPS was $1.03 vs an expected $1.05; revenue was $114 billion vs an expected $116.2 billion Same store sales of 1.1% at WMT US and just 0.4% at Sam\u2019s Club were below the 1.5% gain expected for both segments Promised investments [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ufcw.org\/press-releases\/walmart-worker-shareholder-reacts-to-q1-earnings-report\/\" \/>\n<meta property=\"og:site_name\" content=\"The United Food &amp; 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