March 24, 2014 |
Talk about a "poverty trap"! The phrase was recently used by House Budget Committee Chairman Paul D. Ryan, R-Wisc., to suggest that the nation's panoply of programs to aid low-income households was keeping them from rising into the middle class. Wal-Mart's annual report , issued late last week, puts a different spin on things. Buried within the long list of risk factors disclosed to its shareholders--that is, factors "outside our control" that could materially affect financial performance--are these: " changes in the amount of payments made under the Supplement Nutrition Assistance Plan and other public assistance plans, (and)
March 5, 2014 |
Wal-Mart has announced it is cutting the price of the iPhone 5s and the Samsung Galaxy S4 to $119 and $49, respectively. The retailer said customers can purchase the gadgets at their new prices starting Wednesday. Wal-Mart said it is also cutting the price of the iPhone 5c to $29. Customers who wish to buy the devices must get them with a two-year contract from either AT&T or Verizon. Wal-Mart said the rolled back prices will be available for at least 30 days. VIDEO: Unboxing the Quirky Spotter multipurpose sensor Previously, Wal-Mart sold the iPhone 5s for $145, the GS4 for $99 and the iPhone 5c for $45. Additionally, customers who buy any Samsung smartphone between March 9 and March 22 will also receive a $50 Wal-Mart gift card.
February 20, 2014 |
If Wal-Mart Stores Inc.'s fiscal fourth-quarter earnings were any indication, the economy could use some shaping up. The Bentonville, Ark., giant, the largest retailer in the world, said its profit for the three-month period ended Jan. 31, plunged 21% to $4.4 billion, or $1.36 a share, from $5.6 billion, or $1.67 a share, during the same period a year earlier. The company's earnings missed Wall Street's expectations of $1.59 a share. The chain's $128.8 billion in net sales, a 1.4% increase, also failed to hit forecasts of $129.9 billion.
February 9, 2014 |
When Madonna was on tour in Spain a few years ago, teenage girls turned up at her final performance wearing the very outfit she had worn for her first show. They had bought it from Zara, the Spanish retailer. While most fashion retailers take months to introduce new product lines, Zara's supply chain can design and deliver new clothes to its 1,500 stores in more than 70 countries within days. In her book "The Good Jobs Strategy," published by New Harvest, Zeynep Ton argues that Zara's investment in staff is crucial to this speed, together with its ability to collect information from employees on what is popular.
February 4, 2014 |
Wal-Mart Stores Inc. is plunging nearly 500 million Canadian dollars, or $452 million, into its efforts in the next year to dominate the retail landscape in the Great White North. The discounter's Canadian unit said Tuesday that it will spend $339 million to open 35 new supercenter stores - or 1-million square feet of new retail space - by the end of it fiscal year on Jan. 31, 2015. The build-out would bring the total number of Wal-Mart units in the country to 395. Last week, rival retailer Target said it would continue its growth in Canada by adding nine additional stores to the 124 locations already open.
January 31, 2014 |
Wal-Mart Stores Inc. said Friday that U.S. sales figures for its fiscal fourth quarter would probably come in below earlier forecasts when they're announced Feb. 20 due to the effects of volatile weather and cuts to the federal food stamp program. The world's largest retailer said in November that for the fourth quarter ended Jan. 31, it expected sales at American Wal-Mart stores open at least a year to be relatively flat. So-called same-store sales at its warehouse chain Sam's Club were projected to be anywhere from flat to up 2%. But on Friday the company said that sales would likely miss the mark, pushed down from stronger-than-expected pressure from a government reduction in the Supplemental Nutrition Assistance Program that went into effect Nov. 1. Winter storms also caused store closings during the period, according to Wal-Mart, which has more than 11,000 units in its system.