Get 40% Off
These stocks are up over 10% post earnings. Did you spot the buying opportunity? Our AI did.Read how

Walmart to invest $257 million in beef-packing plant in Kansas

Published 06/13/2023, 11:20 AM
Updated 06/13/2023, 11:36 AM
© Reuters. FILE PHOTO: The logo of Down Jones Industrial Average stock market index listed company Walmart is shown on one of its stores in Encinitas, California April 13, 2016.  REUTERS/Mike Blake

(Reuters) - Walmart (NYSE:WMT) said on Tuesday it would invest $257 million to open a beef-packing plant in Olathe, Kansas in 2025, which would create more than 600 jobs.

The facility will package and distribute cuts of the higher grade Angus beef from Sustainable Beef LLC. Walmart had acquired a minority stake in the ranch-based beef processing plant last year, which is expected to be functional in late-2024.

The company's investment plans come at a time when consumers have been trading down to cheaper private labels due to high inflation.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.