TL;DR – It's a great time to be a Walmart executive. The nation's largest employer is making more money than ever, mostly due to the soaring price of groceries and the company's emphasis on selling those groceries to often captive consumers in rural areas who have few other choices.
To celebrate, those execs announced wage cuts for most of their entry level positions like shelf stockers and online order fulfillers.
Predictably, Wall St. loved the move. Investors drove the company's stock price to a 52 week high, likely improving the bonuses of many top Walmart execs who are often receive a majority of their compensation in stock grants.