Toothpaste or teeth-whitening?... Both. Last week, Walmart sneakily updated its website to reveal it wants to be a doctor when it grows up: Starting September 13th, a Georgia location will add medical services. This week, Earth's biggest retailer is taking a fresh stand: guns. Big one. Here's what's in and what's out:
"The status quo is unacceptable..." — Walmart CEO Doug McMillon. Both he and Walmart's founder were avid hunters. Plus, the chain enjoys 20% of all US ammo sales. Now he's expecting these policies to drop that market share to 6%. Two recent shootings within Walmart stores pushed these moves — here's how they fit in:
Corporate policies > Government policies... (lately). Investors have been rewarding companies that jump into political issues where consumers crave government action, but aren't getting it. Picture Nike with social issues, Starbucks with employee pay, or private Patagonia on the environment. Walmart saw gun standards as its "responsibility" — now it's even sending letters to Congress to follow.