Walmart Aims to Spend $350 Billion More on U.S. Products This Decade
(Bloomberg) -- Walmart Inc. pledged to support American manufacturers by spending an additional $350 billion on items made, grown or assembled in the U.S. over the next 10 years.
The move will help create more than 750,000 U.S. jobs, Walmart U.S. CEO John Furner said Wednesday in a blog post. The company will focus on investing in plastics, small electrical appliances, food processing, pharmaceutical and medical supplies.
The investment will also cut an estimated 100 million metric tons of emissions by sourcing closer to customers, Furner said. This is part of the company's pledge to be carbon neutral by 2040.
In 2013, the world's largest retailer committed to investing $250 billion in U.S. products and has said about two-thirds of its goods are sourced in the U.S. This new spending would average $35 billion a year, compared to the chain's cost of goods sold last year totaling $420 billion.
©2021 Bloomberg L.P.
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