Wal-Mart Paid $2B in Bonuses, Continues Strong Growth

wal mart Wal Mart Paid $2B in Bonuses, Continues Strong GrowthThe world’s largest retailer, Wal-Mart, has released new annual bonus figures today. Wal-Mart said it paid out about $2 billion to its U.S. hourly employees through various financial incentives, which included $933.6 million in cash bonuses, $788.8 million in profit sharing, merchandise discounts, 401(k) contributions, employee stock options, among other incentives.

Last year, Wal-Mart handed out $1.2 billion in financial bonuses.

Wal-Mart has been able to do this given strong growth despite a global economic downturn. Same-store sales were up 3.3% in the last fiscal year ending Jan 31, 2009. Total sales during that same period were up significantly by 7.2% to $401.24 billion.

More and more people are going to Wal-Mart today to save on purchases given massive job losses and high mortgage payments that become due. Wal-Mart said today it plans to further cut prices including specifically on glasses and contact lenses, among other merchandise. 2008 Annual Report


Tags: ,

Questions about this post? Please contact Hercules K at hercules@business2press.com

Google BuzzGoogle Buzz
 Email | | | | More
Short URL: http://bit.ly/2GQm5L
blog comments powered by Disqus