How much does the office supply business make at Walmart?
How much do the office supplies business make in the U.S.?
The answer is about $1.3 billion per year, according to a new study from the firm IHS Markit.
That’s an improvement from last year, when it was $1 billion per day.
It also beats the previous record, set in 2012, by about $200 million per day, said Robert Lautenschlager, an analyst at IHS.
The company’s chief executive, Craig Berman, said in a statement that he expected the increase would translate into increased sales, a sign of consumers’ confidence in the industry.
“Our customers expect that our products are safe and the quality of the products we make is top notch,” Berman said.
“They’re ready to spend their money and buy.”
As of Nov. 18, the company reported that its business was up $1 million, or 5.6%, over the same time period in 2016, the firm said.
Walmart, which also makes the vacuum cleaners and other office supplies and sells them online, also reported a 3.3% increase in net income last year.
In addition, the price of the company’s office supplies has dropped in recent years.
Its Office Depot business has seen a 4% decline in the past three years, according a report from The Wall Street Journal.
Berman and company, which has a market capitalization of $25 billion, declined to provide an exact figure for how much its profits have fallen since 2012.
But in a filing with the Securities and Exchange Commission last year they said that the company had to close about 5,000 stores because of falling sales, which it blamed on lower consumer demand.
As the office and home appliance business continues to expand, its market share in the retail space is expected to continue to shrink, analysts said.