Retail giant Walmart has been saving a lot of money by making a few small change.
The company has shortened the length of its receipts and changed its plastic bags to save $27 million. The savings costs of just shortening the receipts resulted in $7 million.
It was on Tuesday that Walmart made this point in its hometown of Bentonville, Arkansas.
The company’s chief financial officer, Brett Biggs commented, “A simple change to our plastic bags at Walmart U.S. resulted in an annualized savings of approximately $20 million. A decision to shorten the length of the receipts, saved over $7 million.”
The company recently said that it expects domestic e-commerce sales to rise 40% in the fiscal year ending in early 2019.
CEO Doug McMillan commented, “We’re combining the accessibility of our stores with eCommerce to provide new and exciting ways for customers to shop.”
Moody’s retail analyst Charlie O’Shea remarked, “We still believe Amazon’s lead in online retail is insurmountable. However, Walmart continues to widen the gap between itself and all other brick-and-mortar retailer by leveraging its unmatched physical resources.”
Disclaimer: We have no position in Wal-Mart Stores Inc. (NYSE: WMT) and have not been compensated for this article.