Walmart -one of the nation’s largest employers- posted stunning sales figures this week; showing growth at the fastest pace in over a decade just months after President Trump signed the sweeping tax overhaul into law.
According to the Wall Street Journal, the retail giant “continues to draw more people to stores and benefit from strong consumer spending boosting performance at many retailers.”
“Sales at existing U.S. stores and websites rose 4.5% during the second quarter ended July 31. Walmart also said it expects sales and profit to rise more than previously expected during the current fiscal year. Sales in existing U.S. stores will rise 3%, the retailer said,” writes the WSJ.
Walmart’s surprising sales growth comes amid a new US report that showed overall retail sales “soared” in July; up a shocking 6.4% across the country from the same time last year.
Read the full report here.
ARMAGEDDON? Walmart to RAISE U.S. WAGES After GOP Tax Cuts
US retail giant Walmart announced Thursday its plan to raise wages for its employees across the country and pay out big bonuses in response to the recently passed GOP tax cuts; throwing more cold-water on prominent Democrats predictions of “the end of the world” after the President signed the sweeping overhaul.
Walmart –the largest single employer in multiple states throughout the nation- released an official statement this week, saying the megastore will raise its hourly wage for all associates to $11, expand maternity leave, and give out $1,000 in bonuses to eligible employees.
“Today, we are building on investments we’ve been making in associates, in their wages and skills development,” said Doug McMillon, Walmart president and CEO. “It’s our people who make the difference and we appreciate how they work hard to make every day easier for busy families.”
“We are early in the stages of assessing the opportunities tax reform creates for us to invest in our customers and associates and to further strengthen our business, all of which should benefit our shareholders,” he added.
The announcement is a far cry from House Minority Leader Nancy Pelosi’s predictions of “Armageddon” and the “end of the world.”
Other major American corporations, such as Southwest Airlines, AT&T, Boeing, and others have also announced major investments in US-based workers following the tax cuts.
ARMAGEDDON? Federal Government Sees RECORD SURPLUS Following GOP Tax Cuts
The liberal predictions of “doom and gloom” and “death and destruction” continued to crash and burn this week, with the Treasury Department confirming the US government saw record surpluses in the first full month under the recently passed GOP tax cuts.
According the official report, the federal government collected roughly $361 billion in tax revenue this January but spent only $312 billion; posting a budget surplus of approximately $49 billion.
The strong economic data matches similar upticks in other indicators, signaling the US recovery continues to soar under President Donald Trump and the GOP-controlled Congress.
Earlier this year, dozens of massive American corporations -such as AT&T, Walmart, Disney, Starbucks, American Airlines, UPS, Home Depot, and others- raised wages and paid out big bonuses after President Trump signed the sweeping tax reform into law.
The news comes as leading Democrats continue to trash the GOP tax cuts.
This week, House Minority Leader Nancy Pelosi blasted the GOP legislation, saying “we must continue showing the public how unfair the GOP Tax Scam is to the middle class and halt the GOP assault on the Affordable Care Act.”