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Retail

Walmart To Spend $2 Billion To Relieve US Hunger

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Updated Published
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According to the US Agriculture Department, 15% of Americans do not have access to an adequate supply of nutritious food. Walmart (NYSE: WMT) means to relieve a large part of the problem and will devote a large investment to the cause.

Walmart and the Walmart Foundation announced a $2 billion cash and in-kind commitment today, stepping up efforts to help end hunger in America.

The program will have four portions:

  • Donating more than 1.1 billion pounds of food from Walmart stores, distribution centers and Sam’s Club locations, valued at $1.75 billion;
  • Grants totaling $250 million to support hunger relief organizations at the national, state and local levels;
  • Mobilizing Walmart associates and customers. For example, Walmart’s logistics team will lend their expertise to help food banks become more efficient in their operations; and
  • Collaboration with government, food manufacturers and other corporations that are fighting hunger to increase impact and reach a greater number of families in need.

    • The announcement is much more than a PR step by Walmart. The company earned $7.2 billion last quarter so the move is not an insignificant one. And the Walmart Foundation, created by the company’s founder Sam Walton, has as one of its major initiatives programs to addressed at supplying food to Americans who are hungry with a special focus on children.

    The program is slated to appear over five years.

    Douglas A. McIntyre

    Photo of Douglas A. McIntyre
    About the Author Douglas A. McIntyre →

    Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

    McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

    His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

    A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

    TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

    McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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