Walmart, which has been increasingly wading into contentious social issues this year, is seeking ways to make a “positive difference,” Chief Executive Officer Doug McMillon said.
The company, which opposed religious-freedom legislation earlier this year and coaxed much of the retail industry into raising wages, took another stand on Monday when it said it would no longer sell Confederate flag merchandise.
During an interview with Bloomberg Television’s Olivia Sterns Tuesday morning, McMillon said Walmart is looking at “doing good things for the world.”
“We are a retailer - we are a merchant,” he said. “That is our business. But we look for places to make a positive difference. There is such a thing as a double bottom line, whether it is the wage increase or what we do with environmental sustainability to limit waste.”
This week’s Confederate flag move underscored Walmart’s increasingly aggressive stance on controversial issues.
The Bentonville, Arkansas-based company said it would eliminate merchandise with the symbol from its stores and website. Walmart has sold a range of Confederate-themed products, including decals, knives and T-shirts. McMillon blamed third-party sellers on the company’s e-commerce site for offering the products.
“We do not want to sell anything that offends people,” he said. “When we saw that they were out there, we decided to discontinue.”
McMillon also is trying to pull the retailer out of a sales slump. Earnings and revenue both missed analysts’ estimates last quarter, weighing on Walmart’s stock. At the company’s annual meeting earlier this month, McMillon said efforts to modernise the company and boost e-commerce will put Walmart on the right track.
“This is a turning point in our story, and the investments we’re making today will set the stage for strong and sustainable growth,” McMillon said at the meeting.
News by Bloomberg, edited by ESM
