Morning Report: Walmart cuts e-commerce jobs as inflation ramps up
The shift that retailers are preparing for
Walmart is laying off hundreds of employees at e-commerce fulfillment centers across the country. The big-box giant joins a growing list of retailers, including Amazon and Target, that are cutting costs. Many retailers anticipate flat or declining sales as inflation hits spending.
Despite inflation, restaurants in America are expecting to see a growing number of delivery and takeout orders for food and alcohol in 2023. The National Restaurant Association found that many restaurants are turning delivery- and takeout-focused “pandemic pivots” into “permanent” business.
Stocks closed a bit higher Thursday.
Tech stocks led the way. Among them was Netflix.
It may only be mid-March, but many people may be looking ahead to two spring holidays. Passover is taking place on Wednesday, April 5 and Easter, falls on Sunday, April 9. Instacart says Reese’s Peanut Butter Eggs are the clear favorite in 29 states, including the entire west coast for Easter. The unleavened flatbread called matzah remains a pantry staple for Passover celebrations worldwide.
Nearly half of Americans are traveling this spring, according to new research. Conducted by OnePoll for Dutch bros, the survey found that 44% of Americans need an energizing pick-me-up to help gear themselves up for warmer weather. Respondents are more likely to say that cheaper, smaller pleasures like a good cup of coffee or taking a brisk walk has a better impact on their mood than larger pleasures like splurging on something expensive or going on vacation.