Discount retailer Walmart (WMT) is expanding its 10% employee discount to nearly all of its grocery items.
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Going forward, people who work at Walmart will get 10% off groceries that include dairy and meat, according to a staff memo that has been made public. Walmart, which is the largest private employer in the U.S., previously provided the grocery discount to staff during the year-end holidays. But the perk is now being made available year-round, said the company.
The discount was also previously limited to fresh produce and general merchandise such as apparel. However, now it is being extended to most food categories — including milk, meat, dry grocery, and seafood. Staff can buy groceries at a 10% discount either in store or online.
Other Perks
“We’ve heard your feedback that these savings make a real difference for you and your families,” Walmart wrote in the memo to employees. The discount program, first introduced more than 50 years ago, is among the company’s most requested benefits by staff.
In addition to the 10% discount on groceries, Walmart has also raised wages for its U.S. hourly workers in recent years and launched a bonus program for about 700,000 frontline staff. Management has said they are improving pay and benefits as they seek to retain workers. WMT stock is up 12% this year.
Is WMT Stock a Buy?
The stock of Walmart has a consensus Strong Buy rating among 29 Wall Street analysts. That rating is based on 29 Buy recommendations issued in the last three months. The average WMT price target of $112.15 implies 7.91% upside from current levels.
