Sometimes things are out of your control—whether you’re a giant multinational corporation or an hourly employee. That’s really the theme of this week and, of course, more earnings.
In-store policy: Starting today, In-N-Out is banning employees from five states from wearing masks without a medical note. The company says the new policy is for the “importance of customer service,” according to a company memo.
- The new rule affects employees in Arizona, Texas, Utah, Colorado, and Nevada.
“We believe this policy will also help to promote clear and effective communication both with our Customers and among our Associates,” the memo reads. It also clarifies that In-N-Out will continue to review the policy in accordance with health standards.
In artificial intelligence: On Tuesday, China is set to implement a number of regulations on generative AI, particularly apps that use models like ChatGPT. Several applications were already removed from Apple’s China app store ahead of the measures, which include demanding AI apps in China to receive a license.
- More and more US retailers and tech companies that partner with brands have increasingly been leveraging such technology this year, including eBay and Google.
In earnings: Walmart is scheduled to report its earnings Thursday, and the word on the street is that the company could expect good news. Walmart’s chief competitor Amazon reported a strong Q1 a couple of weeks ago, including a 6.4% climb in physical store sales.
- According to new data from Numerator, Walmart now accounts for 25.2% of all grocery sales, a bump for 1.5 percentage points from 2021.
Other earnings this week include The Home Depot (Tuesday), TJX Companies, Target, JD.com, (Wednesday), Ross Stores (Thursday), and Estée Lauder Companies (Friday).
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