Only 30%?
Posted on November 12, 2009 at 8:20 am
An NPD study says three out of 10 people will cut back on their holiday spending this year, which is expected to be the second straight of negative seasonal retail sales. Strikes me as a little low, especially when Wal-Mart just reported negative same-store sales.
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You don’t absolutely have to get into Dollar General at its IPO price
Posted on November 6, 2009 at 12:57 pmBut it sure will help your portfolio if you do… Jutia contributor Brandon Clay says the Goodlettsville-based retailer likely won’t trade at a discount to Wal-Mart long after it goes public.
It’s a cash cow so long as the debt load can be managed and eliminated.
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Taylor Swift in deal with British retailer
Posted on October 6, 2009 at 9:44 amThe singer, who already has a licensing arrangement with the Bentonville behemoth, is teaming up with Britain’s Marks & Spencer chain.
“If I was going to put out dresses, I wanted them to be affordable, especially with the economy doing what it’s doing, so I’m really excited that we’ve accomplished that.”
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Miley hits Wally World
Posted on June 3, 2009 at 7:59 am
The world’s biggest retailer will this summer launch a clothing line branded with the local teen pop and TV star and sponsor her concert tour.
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Wal-Mart tightens its belt
Posted on February 12, 2009 at 7:56 amAnd sheds a few jobs:
Wal-Mart Stores Inc. will cut 700 to 800 jobs at its northwestern Arkansas headquarters as it builds fewer new stores this year and makes other operational changes, the world’s largest retailer announced Tuesday.
The cuts are in Wal-Mart’s real estate, apparel and health and wellness departments, spokesman David Tovar said. Wal-Mart would not say how many jobs will be cut in each segment.
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Undercover at Walmart
Posted on February 11, 2009 at 9:00 amA writer gets a job at the nation’s discount retailer in an attempt to understand how it works:
We were given only a handful of outright prohibitions. No swearing in the store, for instance - not even the word “damn,” because some people might be offended. No funny-colored hair or blatant skin piercings, because some people might be offended. In fact almost all the rules devolved to the sacred principle of never, ever offending a customer - or “guest,” in Wal-Mart terminology.
The reason was clearly articulated. On average, anyone walking into Wal-Mart is likely to spend more than $200,000 at the store during the rest of his life. Therefore, any clueless employee who alienates that customer will cost the store around a quarter-million dollars. “If we don’t remember that our customers are in charge,” our trainer warned us, “we turn into Kmart.” She made that sound like devolving into some lesser being - a toad, maybe, or an ameba.
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Wal-Mart to settle wage suits
Posted on December 23, 2008 at 11:58 pmThe Wall Street Journal reports on the retail giant’s deal, which could end up costing more than $600 million — but still be much cheaper than unionization.
Paul M. Secunda, an associate professor at Marquette University Law School, suggested Wal-Mart wanted to settle the lawsuits not just to avoid potentially more costly defeats in the courtroom, but to resolve issues that might be used to argue for passage of the Employee Free Choice Act. The legislation, expected to be considered by Congress next year, is fiercely opposed by Wal-Mart because the company worries it will make it easier for workers to unionize.
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Big retail on a downslope
Posted on December 4, 2008 at 10:52 amWhile investors were of the opinion that the economy shifted to neutral in October as the financial crisis exploded, the reports from retailers today matches the news from the automakers Tuesday — the economy shifted into reverse. Excluding Wal-Mart, the drop in Thomson Reuters same-store-sales index was projected to be 7%.
Part of that has to do with the late Thanksgiving, resulting in fewer post-Thanksgiving shopping days. But that’s semantics. Costco was twice as bad as in 2007; Walgreen’s reported its first drop in more than a decade, and Target sales were down 10%. Bucking the trend, BJ’s Wholesale Club rose 4.1%, nearly doubling estimates. Target shares fell 3.6%. Costco was down 2%.
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