Wal-Mart Has Moved More Shipments To Texas And East Coast Ports

MarketWatch Pulse

As the stalled West Coast port contract talks wreak havoc on U.S. imports and exports, Wal-Mart Stores Inc. said it's starting to see an impact on its business. The company has been diversifying to move more goods into the U.S. through Texas and East Coast ports, Chief Executive Doug McMillon said on a media call Thursday. "This isn't the first time" the West Coast has stalled contract talks that led to a port slowdown, McMillon said. "We may have to make further adjustment if the issue persists." The 29 West Coast ports handle the largest U.S. cargo volume and are estimated to represent 12.5% of U.S. GDP. The issue has hurt retailers including Lululemon Athletica Inc. and Ann Taylor parent Ann Inc. Wal-Mart said any West Coast-related cost impact was already factored into its outlook.

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