Benzinga - by Mohit Manghnani, Benzinga Editor.
In today's news roundup for Walmart Inc. (NYSE: WMT), we delve into the company's recent decision to reduce operating hours at select Atlanta-area stores, its collaboration with the Canadian government to stabilize food prices, and a patent infringement lawsuit it is currently facing.
Reduced Operating Hours in Atlanta:
Walmart has announced a reduction in operating hours at five stores in the Atlanta area, now closing at 9 p.m. instead of 11 p.m.
The decision was made based on feedback from store managers, employees, and shoppers.
While the exact reasons for the change were not specified, it could be due to low sales volumes, staffing challenges, or concerns about retail crime. This move could potentially impact Walmart's financial performance. Read more here.
Collaboration to Curb Food Inflation in Canada:
Walmart is among five large grocery chains that have agreed to work with the Canadian government on a plan to stabilize food prices.
This collaboration aims to address rising food costs and could have implications for Walmart's competitive positioning in Canada. Full details here.
Facing Patent Infringement Lawsuit:
Walmart is currently facing a patent infringement lawsuit from RavenWhite Licensing.
The lawsuit alleges that Walmart's website and advertising program infringe on RavenWhite's patents related to processing cookies and serving targeted online advertisements.
RavenWhite is seeking compensatory damages and interest. More on this here.
Disclaimer: This article was developed with the aid of artificial intelligence and Ultima Insights and underwent an editorial review.
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