Consumers aren't as optimistic about the holidays as they were back in June.
Starting in November, many corporate workers at Walmart and Sam's Club, its warehouse chain, will be reclassified into fewer groups of possible titles and pay. Around 4%, or 2,000, will receive an eventual reduction in stock-option awards as part of the change, the report added.
It's hard to understate the power that Walmart, Amazon, and Costco Wholesale wield in the U.S. retail industry and the broader economy. Walmart and Amazon are also the two biggest employers in the country, and Costco is among the top as well. The retailer I'm talking about is BJ's Wholesale Club (NYSE: BJ), the membership-based club chain, generally thought of as the No. 3 operator in that retail subsector behind Costco and Walmart's Sam's Club.