Walmart Plans to Save Millions of Dollars A Year By Doing This

Big box retailer Walmart has plans to save millions of dollars a year by making some changes to its business.

The world’s biggest retailer announced the news this week in New York where its CFO Brett Biggs announced that the company can save millions of dollars by making even the slightest tweaks.

The company will save $60 million annually by changing its process for buying shopping bags for one, said Biggs.
Walmart will also cut the cost of the vests its workers wear by 15% by making them out of recyclable materials, he added.

“You can take a lot of small projects. … You can scale them across the business, and they can lead to impressive savings,” the CFO explained. “We are bending the curve on expenses.”

It was at the company’s 2019 annual shareholders meeting in Arkansas where Walmart said it would save at least $30 million for the year by swapping out existing stepping stools in its distribution centers with a lighter-weight version.

It had also previously said it was saving $200 million by changing the light bulbs in its stores and parking lots and would save $20 million by using a new new floor wax.

Walmart had recently reported fiscal fourth-quarter earnings that missed analysts’ estimates.

Disclaimer: We have no position in Walmart Inc. (NYSE: WMT) and have not been compensated for this article.