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Walmart To Boost Sourcing Of U.S. Products By $50 Billion Over The Next 10 Years

Stocks in this article: WMT

NEW YORK, Jan. 15, 2013 /PRNewswire/ -- Walmart today announced bold commitments to increase domestic sourcing of the products it sells and help veterans find jobs when they come off active duty. Speaking at the National Retail Federation's annual BIG Show, Walmart U.S. President and CEO Bill Simon also announced the company is helping part-time associates who want to be full time, make that transition.

"We want all of our associates to find the career opportunities they want with Walmart," said Simon. "We will make sure part-time associates have full visibility into full-time job openings in their stores and nearby stores, and that they always have first shot at those jobs. We will also bring more transparency to our scheduling system so part-time workers can choose more hours for themselves."

U.S. Manufacturing

On domestic sourcing, Walmart and Sam's Club will buy an additional $50 billion in U.S. products over the next 10 years. The company will grow U.S. manufacturing on two fronts: by increasing what it already buys here – in categories like sporting goods, apparel basics, storage products, games, and paper products, and by helping to onshore U.S. production in high potential areas like textiles, furniture and higher-end appliances.

"At the heart of our national political conversation today is one issue: creating jobs to grow the economy," said Simon. "We are meeting with our suppliers on domestic manufacturing and are making a strong commitment to move this forward."

A popular misconception about Walmart is where the majority of the products on its shelves are sourced.  According to data from its suppliers, items that are made here, sourced here, or grown here account for about two-thirds of what the company spends to buy products at Walmart U.S. The company sees room to do more.

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