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No, its not April Fools’ Day, but despite some erroneous reports that Walmart will be closing at least 11 stores across multiple states in 2025, Walmart says it will not be closing any of its stores this year. “There are no current plans to close any stores in 2025,” a spokesperson for Walmart told Fast Company. “The erroneous claim originated from a late March US Mirror story, and that article was updated following our call to the editors for a correction. Unfortunately, other outlets have incorrectly reported the store closures without checking with our team, leading us to seek corrections from them as well.” Some of those news outlets included MSN and The Hudson Valley Post. The list of stores supposedly closing included locations in Georgia, Maryland, Ohio, Wisconsin, Colorado, and California. What is true is that the Bentonville, Arkansas-based retail giant did close those 11 locations in 2024, but to put that in context, Walmart pointed Fast Company to a January 2024 post from Walmart US CEO John Furner, which explains the closures came at the same time the company pledged it would be “building or converting 150 new stores over the next several years.” That initiative kicked off last year with new locations in Charlotte, North Carolina, Santa Rosa Beach, Florida, and Atlanta, Georgia. On Tuesday, the company opened its first new Supercenter in more than four years, in the Houston area, and has more openings planned for 2025 in California, Utah, Alabama, and Florida. Walmart is also remodeling 650 existing stores as it invests in what it calls “stores of the future.” Expect wider aisles, bigger and “bolder” signage and displays, and expanded online delivery and pickup to accommodate online orders, according to USA Today. The company also plans to open or remodel more than 45 fuel stations this year, expanding its existing network of more than 400 fuel locations in 34 states. The retail giant is expected to announce its fiscal first-quarter earnings for 2026 next month, before the stock market opens on Thursday, May 15. Shares of Walmart (WMT) fell slightly in early morning trading on Tuesday but rebounded, up less than 1% by midday at the time of this writing.
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E-Commerce
The U.S. economy contracted for the first time in three years, an initial measurement by the Commerce Department revealed on Wednesday. During the first quarter of President Trump’s return to office, the gross domestic product (GDP) shrunk at an annual rate of 0.3%. The economic decline follows a 2.4% growth for the last quarter in 2024. Additionally, personal consumption fell from the last quarter, increasing by a 1.8% annualized rate in comparison to the previous 4% rate. While the GDP measurements reflect data from January to March of this year, Trump has taken to social media to blame his predecessor, former president Joe Biden, for the economic decline. “This is Bidens Stock Market, not Trumps,” Trump said via Truth Social. “This will take a while, has NOTHING TO DO WITH TARIFFS, only that he left us with bad numbers.” Economists left surprised by contraction The economic shrink was fueled in part to “an increase in imports” and a “decrease in government spending,” the advanced estimate said. The decline comes as a surprise, with economists surveyed by the Wall Street Journal having anticipated a 0.4% growth. A volatile and uncertain economic landscape leading up to the report has already led various companies to adjust or withdraw their economic forecasts for 2025. Proctor & Gamble, PepsiCo, and Chipotle lowered their economic forecasts, citing volatility and changing consumer habits. Meanwhile, Delta Air Lines, American Airlines, and Southwest Airlines withdrew their full-year guidance for 2025. Major stock indexes were lower on Wednesday as investors absorbed the unpleasant news: The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite were respectively down 0.74%, 1.05%, and 1.51% in late-morning trading.
Category:
E-Commerce
Have you ever used ChatGPT to draft a work email? Perhaps to summarise a report, research a topic or analyse data in a spreadsheet? If so, you certainly arent alone. Artificial intelligence (AI) tools are rapidly transforming the world of work. Released today, our global study of more than 32,000 workers from 47 countries shows that 58% of employees intentionally use AI at workwith a third using it weekly or daily. Most employees who use it say theyve gained some real productivity and performance benefits from adopting AI tools. However, a concerning number are using AI in highly risky wayssuch as uploading sensitive information into public tools, relying on AI answers without checking them, and hiding their use of it. Theres an urgent need for policies, training and governance on responsible use of AI, to ensure it enhancesnot undermineshow work is done. Our research We surveyed 32,352 employees in 47 countries, covering all global geographical regions and occupational groups. Most employees report performance benefits from AI adoption at work. These include improvements in: efficiency (67%) information access (61%) innovation (59%) work quality (58%). These findings echo prior research demonstrating AI can drive productivity gains for employees and organisations. We found general-purpose generative AI tools, such as ChatGPT, are by far the most widely used. About 70% of employees rely on free, public tools, rather than AI solutions provided by their employer (42%). However, almost half the employees we surveyed who use AI say they have done so in ways that could be considered inappropriate (47%) and even more (63%) have seen other employees using AI inappropriately. Sensitive information One key concern surrounding AI tools in the workplace is the handling of sensitive company informationsuch as financial, sales or customer information. Nearly half (48%) of employees have uploaded sensitive company or customer information into public generative AI tools, and 44% admit to having used AI at work in ways that go against organisational policies. This aligns with other research showing 27% of content put into AI tools by employees is sensitive. Check your answer We found complacent use of AI is also widespread, with 66% of respondents saying they have relied on AI output without evaluating it. It is unsurprising then that a majority (56%) have made mistakes in their work due to AI. Younger employees (aged 18-34 years) are more likely to engage in inappropriate and complacent use than older employees (aged 35 or older). This carries serious risks for organisations and employees. Such mistakes have already led to well-documented cases of financial loss, reputational damage, and privacy breaches. About a third (35%) of employees say the use of AI tools in their workplace has increased privacy and compliance risks. Shadow AI use When employees arent transparent about how they use AI, the risks become even more challenging to manage. We found most employees have avoided revealing when they use AI (61%), presented AI-generated content as their own (55%), and used AI tools without knowing if it is allowed (66%). This invisible or shadow AI use doesnt just exacerbate risksit also severely hampers an organisations ability to detect, manage, and mitigate risks. A lack of training, guidance and governance appears to be fuelling this complacent use. Despite their prevalence, only a third of employees (34%) say their organisation has a policy guiding the use of generative AI tools, with 6% saying their organisation bans it. Pressure to adopt AI may also fuel complacent use, with half of employees fearing they will be left behind if they do not. Better literacy and oversight Collectively, our findings reveal a significant gap in the governance of AI tools and an urgent need for organisations to guide and manage how employees use them in their everyday work. Addressing this will require a proactive and deliberate approach. Investing in responsible AI training and developing employees AI literacy is key. Our modelling shows self-reported AI literacyincluding training, knowledge, and efficacypredicts not only whether employees adopt AI tools but also whether they critically engage with them. This includes how well they verify the tools output, and consider their limitations before making decisions. We found AI literacy is also associated with greater trust in AI use at work and more performance benefits from its use. Despite this, less than half of employees (47%) report having received AI training or related education. Organisations also need to put in place clear policies, guidelines and guardrails, systems of accountability and oversight, and data privacy and security measures. There are many resources to help organisations develop robust AI governance systems and support responsible AI use. The right culture On top of this, its crucial to create a psychologically safe work environment, where employees feel comfortable to share how and when they are using AI tools. The benefits of such a culture go beyond better oversight and risk management. It is also central to developing a culture of shared learning and experimentation that supports responsible diffusion of AI use and innovation. AI has the potential to improve the way we work. But it takes an AI-literate workforce, robust governance and clear guidance, and a culture that supports safe, transparent and accountable use. Without these elements, AI becomes just another unmanaged liability. Nicole Gillespie is a professor of management and chair in trust at Melbourne Business School. Steven Lockey is a postdoctoral research fellow at Melbourne Business School. This article is republished from The Conversation under a Creative Commons license. Read the original article.
Category:
E-Commerce
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