WMT stock closed up 1.6% on January 5, 2022, when the rest of the market closed down BIG. Good relative strength is something traders look for when taking long positions.
BrightDrop signs electric van pact with Walmart, expands FedEx collaboration
BrightDrop, an electric delivery spinoff of General Motors (GM), announced it is adding Walmart (WMT) to its growing roster of customers, and expanding its relationship with FedEx (FDX). Walmart signed an agreement to reserve 5,000 of BrightDrop’s EV600 and smaller EV410 electric delivery vans to support the retail giant’s growing last mile delivery network and goal of operating a zero-emissions logistics fleet by 2040. FedEx has signed an agreement with BrightDrop reserving priority production for 2,000 electric delivery vans over the next few years. This agreement adds to FedEx’s initial reservation of 500 BrightDrop EVs announced last year. In addition, FedEx is working on a plan to add up to 20,000 more in the years to follow, subject to further negotiations and execution of a definitive purchase agreement. FedEx also unveiled plans to expand its testing of BrightDrop’s EP1 electrified container to 10 markets beginning in 2022. Source: https://www.gobrightdrop.com/newsroom/brightdrop-announces-walmart-as-new-ev-customer-and-expands-collaboration-with-fedex-at-ce s
Walmart To Expand InHome Delivery, Reaching 30 Million U.S. Homes in 2022
It’s a new year and Walmart is resolving to bring the convenience of InHome delivery to even more customers in 2022. Today, the retailer is announcing plans to scale the service, going from InHome being available to 6 million households to making it accessible to 30 million U.S. households by the end of the year. To support the expansion, Walmart plans to hire more than 3,000 associate delivery drivers this year as well as build out a fleet of 100% all-electric delivery vans.
“We’ve been operating InHome in select markets over the last two years and have found it is a perfect solution for customers who want to live their lives without worrying about making it to the store or being home to accept a delivery,” said Tom Ward, senior vice president, last mile at Walmart U.S. “Identifying ways to help our customers save time and money is our purpose, and nothing showcases that better than InHome delivery, which is why we’re excited to bring the convenience of InHome to even more customers in 2022.”
Launched in 2019, Walmart’s InHome delivery service is designed to give time back to families by using highly trained associates to deliver fresh groceries, everyday essentials and more directly into customers’ homes, including placing items straight into their kitchen or garage refrigerator, as well as picking up Walmart.com returns. Here’s how it works:
- Order: Once signed up for InHome, a customer places their order on the Walmart App and selects InHome as their preferred delivery option.
- Deliver: A highly trained InHome associate completes the delivery. Upon arriving at the customer’s home, the associate uses a one-time access code to unlock the customer’s door or garage through their InHome app, which pairs with smart entry technology. The app notifies the customer at every step and a camera, worn on the associates’ vest, records the entire delivery, which customers have access to from their phones for up to a week after each delivery.
- Enjoy: The customer can rest easy knowing associates took the appropriate safety measures, including wearing a mask, sanitizing surfaces and locking up, leaving the perfect finishing touches.
- Walmart’s InHome Delivery service is $19.95 per month or $148 per year, with no additional fees, including tips which are built into the membership price. Customers can extend one-time access to their InHome associate using an existing smart lock, a garage keypad, or by purchasing a new smart lock from InHome for $49.95.
To support the rapidly growing service, this year Walmart plans to hire more than 3,000 InHome associate delivery drivers and equip them with a fleet of 100% all-electric delivery vans (EV’s). Not only does the implementation of EV’s support the retailer’s goal of operating a zero-emissions logistics fleet by 2040, but it is also supported by Walmart’s growing infrastructure of 1,396 EV charging stations at stores and clubs across 41 states.
The role of associate delivery driver is a new, up and coming full-time position in Walmart stores that is focused on employing highly qualified associates who are interested in serving customers beyond the store and in the community. InHome drivers are employed by Walmart and receive an extra $1.50/hour from most current store roles, a pay differential designed to attract top talent. Associates qualify for the retailer’s total rewards and benefits plans, including medical, vision and dental insurance, 401(k) matching, paid time off, no-cost counseling and access to a free college degree, with Walmart paying for 100% of tuition and books through its Live Better U program.
Walmart will fill these roles by promoting its own associates from within, building on a track record that saw more than 300,000 associates promoted to roles of more responsibility and higher pay in fiscal year 2021. InHome drivers receive in-depth training conducted both in-person and using virtual reality, further enabling them to build their skill set around using innovative tools and technology to manage the delivery process.
“This new role is yet another example of how technology is enabling us to offer new career opportunities that just didn’t exist a few years ago,” said Julie Murphy, executive vice president and chief people officer, Walmart U.S. “Expanding our number of InHome associates is a testament to the trust and confidence we have in them and their continuous commitment to delight our customers. There’s a path for everyone to build a career here at Walmart, and this position is further proof of that.”
InHome delivery is the newest delivery option to be scaled to Walmart customers and is an important part of the retailers last mile delivery strategy, which includes creating a low-cost last mile delivery network focused on density, speed and sustainability. Walmart also offers delivery and Express delivery on 160,000+ items from more than 3,400 Walmart stores, reaching 70% of the U.S. population. Additionally, the retailer leads the industry in the trialing of sustainable and innovative delivery solutions like drones and self-driving cars. More recently, Walmart began commercializing its nationwide delivery capabilities through Walmart GoLocal, a white-label delivery as a service business focused on providing 3rd party retailers and brands an affordable local delivery solution.
📺 Walmart expands direct-to-fridge ‘InHome’ delivery service
📈 Walmart Stock Technical Analysis
Both the short term and long term trends are neutral. WMT is one of the lesser performing stocks in the Food & Staples Retailing industry. 64% of 46 stocks in the same industry do better. Prices have been consolidating recently, this may present a good entry opportunity.
There is a support zone ranging from 139.13 to 143.21. There is also a support zone ranging from 135.17 to 135.94. This zone is formed by a combination of multiple trend lines in multiple time frames. These zones are formed by a combination of multiple trend lines in multiple time frames.
There is resistance at 146.54 from a horizontal line in the daily time frame. There is a resistance zone ranging from 151.45 to 152.80. This zone is formed by a combination of multiple trend lines in multiple time frames.
Although the technical rating is bad, WMT does present a nice setup opportunity. Prices have been consolidating lately. There is a support zone below the current price at 141.97, a Stop Loss order could be placed below this zone.