Wal-Mart promises to sell healthy food

michelle_obama.gi.top.jpgFirst Lady Michelle Obama appears at Wal-Mart's announcement in Washington of its healthier food initiative. By Aaron Smith, staff writer


NEW YORK (CNNMoney) -- With the help of First Lady Michelle Obama, Wal-Mart vowed Thursday to start selling healthier food.

The world's largest retailer unveiled a five-year plan for selling more nutritional food at a news conference in Washington that included Mrs. Obama.

"The largest corporation in America is launching a program that has the potential to change the marketplace and help families put nutritious food on their table every single day," Obama said, who promotes health through her "Let's Move" campaign.

"I believe this charter is a huge victory for folks all across this country. Most of all, it's a victory for our children," the First Lady added.

The plan includes reducing sodium by 25% in grain products, lunch meats, salad dressing and frozen food.

It also means reducing sugar by 10% in dairy products, sauces and fruit drinks. Wal-Mart also plans to get rid of packaged food products with industrially produced trans fats.

The company said it would make these changes in its own Great Value line of products, and work with suppliers to make sure they do the same thing.

"No family should have to choose between food that is healthier for them and food they can afford," said Wal-Mart Stores Chief Executive Bill Simon. "With more than 140 million customer visits each week, Wal-Mart is uniquely positioned to make a difference by making food healthier and more affordable to everyone."

Wal-Mart's (WMT, Fortune 500) stock edged up 1% on the news, even as the stock market declined overall. To top of page

Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Index Last Change % Change
Dow 16,493.37 -69.93 -0.42%
Nasdaq 4,352.64 -17.13 -0.39%
S&P 500 1,925.15 -5.52 -0.29%
Treasuries 2.50 -0.05 -2.00%
Data as of 3:31am ET
Company Price Change % Change
Bank of America Corp... 14.98 -0.27 -1.77%
Apple Inc 96.13 0.53 0.55%
Facebook Inc 72.36 -0.29 -0.40%
General Electric Co 25.35 0.20 0.80%
Ford Motor Co 16.81 -0.21 -1.23%
Data as of Aug 1

Sections

P&G announces it is selling or closing about 90 smaller brands to focus on its 70 to 80 major brands. More

Terrell White has had a profit-sharing plan for his employees since 1981, believing that if the staff isn't happy, guests won't be either. More

Millennials are spending big money on coffee, alcohol and fast food. Here's where they're spending the most and how much, according to budgeting app Level Money. More

Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.