[CNBC Television] Watch CNBC’s full interview with Walmart CEO Doug McMillon on coronavirus impact on business

🎯 Загружено автоматически через бота: 🚫 Оригинал видео: 📺 Данное видео принадлежит каналу «CNBC Television» (@CNBCtelevision). Оно представлено в нашем сообществе исключительно в информационных, научных, образовательных или культурных целях. Наше сообщество не утверждает никаких прав на данное видео. Пожалуйста, поддержите автора, посетив его оригинальный канал. ✉️ Если у вас есть претензии к авторским правам на данное видео, пожалуйста, свяжитесь с нами по почте support@, и мы немедленно удалим его. 📃 Оригинальное описание: Walmart’s latest earnings results were released Tuesday, showing e-commerce and same store sales growth as consumers turn to the retailer for essential items during the coronavirus pandemic. Walmart CEO Doug McMillon joins “Squawk Box“ to discuss first-quarter earnings, the state of business during the crisis, consumer trends, support for small business and more. Walmart paid $3.3 billion for nearly four years ago. Now, it’s shutting the site down. But Chief Executive Doug McMillon said, given the chance, he would do that deal a second time. “Absolutely ... would do that all over again,” McMillon told CNBC’s Becky Quick in an exclusive interview Wednesday morning. “If you look at the trajectory of our business, it changed when we made that acquisition.” “Not only did we pick up Marc Lore ... we picked up fulfillment centers — a lot of expertise that ended up paying off,” he said. As a result of the deal, McMillon went on, the Walmart brand is now reaching younger and more affluent customers, and also has been able to bring new brands, such as water bottle maker S’well, to . “That was the other role that I thought Jet was going to play,” the CEO said. Brands are more “comfortable,” selling on Walmart now, he said. Critics have contended, however, that was only a money-losing venture for Walmart. Trying to play catch up with Amazon, adding faster shipping options and more third-party sellers, has resulted in a string of investments and expenses that have been a drag on the profitability of Walmart’s bricks-and-mortar shops. On Tuesday, Walmart reported quarterly earnings, revealing that its e-commerce sales in the U.S. shot up by 74%, and same-store sales grew by 10% in the fiscal first quarter. But there is also a price to pay, being the biggest private employer in the U.S. operating during a pandemic. The company said it spent nearly $900 million on expenses related to the Covid-19 crisis, with about three-fourths of that devoted to employee bonuses and expanded benefits. McMillon said Wednesday that Walmart has seen notable spikes in discretionary categories like adult bikes and craft supplies, after the government sent out stimulus checks to aid American households during the pandemic. “If the consumer generally feels like they are going to have a job ... access to money ... we will see them spend that,” he told Quick. Walmart shares as of Tuesday’s market close are up about 5% this year. The company’s market cap is roughly $354.1 billion. For access to live and exclusive video from CNBC subscribe to CNBC PRO: » Subscribe to CNBC TV: » Subscribe to CNBC: » Subscribe to CNBC Classic: Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide. Connect with CNBC News Online Get the latest news: Follow CNBC on LinkedIn: Follow CNBC News on Facebook: Follow CNBC News on Twitter: Follow CNBC News on Instagram: #CNBC #CNBC TV