WMT stock rose in morning trade on March 8, 2022, after the company announced the opening of a new fulfillment center. In this rising rates environment under Biden’s Build Back Better agenda, we can see the large global corporations that are benefiting.
Walmart Selects Shippensburg, Pennsylvania for New Fulfillment Center, Opening Spring 2022
On March 8, 2022, Walmart announced plans for a new fulfillment center in southern Pennsylvania to support the retailer’s rapidly increasing supply chain network and eCommerce capabilities. The 1.8M+ square-foot Shippensburg facility will be located at 2281 United Drive and is set to open Spring of 2022, creating up to 600 permanent, full-time jobs across the region.
“We are proud to open a new state-of-the-art fulfillment center in Shippensburg, which will be instrumental in providing our customers with increased access and faster shipping on millions of every-day low priced items,” said Steve Miller, SVP Supply Chain Operations, Walmart U.S. “In addition to faster shipping, our investment in Shippensburg will bring a positive impact to the community by bringing even more employment opportunities to a growing local economy.”
Walmart fulfillment centers are an important part of the retailer’s supply chain network. Unlike distribution centers, which are focused on receiving, storing, and distributing product to Walmart stores, fulfillment centers are focused on storing millions of items that are picked, packed and shipped directly to customers as soon as next-day. The facility is part of a broader initiative to add more capacity into Walmart’s supply chain as the retailer prepares for growth. In Q4 of FY22, Walmart U.S. eCommerce cited 70% growth over the past two years.
“We are thrilled to have the opportunity to invest in our associates through job promotion and growth while providing new career opportunities to job-seekers in the Southern Pennsylvania region,” said Karisa Sprague, SVP U.S. Supply Chain People. “In addition to competitive compensation and benefits, Walmart also offers industry leading training and development opportunities, such as a college degree 100% paid for by Walmart’s Live Better U. There’s never been a better time to be a Walmart supply chain associate.”
Full-time positions qualify for Walmart’s total rewards and benefits plans, including medical, vision and dental insurance, 401(k) matching, paid time off, stock purchase plan and access to a free college degree.
The Shippensburg fulfillment center is hiring a variety of full-time positions, including the following leadership positions: Assistant General Manager, Human Resources Manager and Operations Managers. Candidates can search for open positions and complete applications online at careers.walmart.com.
Walmart operates seven distribution centers, 160 retail stores and employs more than 60,000 associates in the state of Pennsylvania. In FYE 21, stores, clubs and the Walmart Foundation gave $28.4 million in cash and in-kind donations to local Pennsylvania organizations.
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📈 WMT Stock Technical Analysis
The long-term trend is still neutral, but the short-term trend is positive, so the stock is getting more and more appreciated by traders and investors. WMT is an average performer in the Food & Staples Retailing industry, it outperforms 67% of 46 stocks in the same industry. WMT is currently trading in the middle of its 52-week range. This is in line with the S&P500 Index, which is also trading in the middle of its range.
There is a support zone ranging from 139.78 to 141.02. There is another support zone ranging from 133.52 to 137.35. Both these zones are formed by a combination of multiple trend lines and important moving averages in multiple time frames. There is also support at 129.11 from a horizontal line in the weekly time frame.
There is resistance at 146.54 from a horizontal line in the daily time frame. There is also 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.
WMT has an average technical rating and it also does not offer a high-quality setup at the moment. WMT stock has a Setup Rating of 3 out of 10. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first. Click here to sign up for email alerts on when WMT stock consolidates and has a Setup Rating of 8 or higher.