More: Less than meets eye: Bonuses, not raises, from U.S. tax cut windfall

More: Sam's Club closing dozens of stores

McMillon said Trump's corporate tax cut "gives us the opportunity to be more competitive globally and to accelerate plans for the U.S.”

At the same time, Walmart confirmed Thursday that it is closing about 50 Sam's Club stores and converting another dozen or so into online fulfillment centers. About 50 stores will be shut permanently after a review of store profitability and up to 12 more stores will be shut and reopened as e-commerce warehouses, the person said. The manager, who did not want to give his full name, said the store closures make sense, as Walmart does what is best for Sam’s Club members and employees. FILE - In this June 5, 2017, file photo, a worker stacks merchandise outside a Walmart in Salem, N.H. Walmart is boosting its starting salary for U.S. workers to $11 an hour, giving a one-time $1,000 cash bonus to eligible employees and expanding its maternity and parental leave benefits. NEW YORK (Reuters) - Walmart will raise entry-level wages for U.S. hourly employees to $11 an hour in February as it benefits from last month’s major overhaul of the U.S. tax code and competes for low wage workers in a tight labor market.
Walmart announces that it will increase the minimum wage for its U.S. employees to $11 per hour and close 50 Sam's Club stores.