CALIFORNIA | LOCAL
November 4, 2007 |
Many cities would be cheering the news that Wal-Mart and one of its mega-controversial superstores had moved out of town before even unpacking its bags. But in Garden Grove, a town always pressed for cash and respect, city officials and neighborhood business owners are mourning the big-box retailer's abrupt departure -- which occurred just days before city planners were to vote on the project. "It was cruel the way they did it," said Garden Grove Councilman Bruce Broadwater.
November 2, 2007 |
An environmental group led by former President Bill Clinton gave a nod Thursday to Wal-Mart Stores Inc., announcing that it would work with the world's largest retailer to help cities around the world spend less for "green" technologies such as energy-efficient street lamps. The Clinton Climate Initiative also said it would extend its programs and purchasing consortium to all 1,100 cities represented by the U.S. Conference of Mayors.
October 24, 2007 |
The world's largest retailer is going on a diet. Beset by shrinking sales growth, Wal-Mart Stores Inc. said Tuesday that it planned to build fewer and smaller stores as it cuts costs to help shore up profit. For the second time this year, Wal-Mart is trimming plans for capital expenditures to about $15 billion from a June forecast of $15.5 billion in the face of continued decline in sales growth, Chief Financial Officer Tom Schoewe told investors and analysts at a conference.
October 23, 2007 |
Wal-Mart Stores Inc. said Monday that it would spend $875 million to take full ownership of its money-losing Japanese subsidiary, Seiyu Ltd., as the U.S. retailer struggled to speed up management changes and revive slumping performance in the world's second-largest economy. Reversing losses in Japan would be an added boost to Wal-Mart's already fast-growing international business at a time when growth in its home market is flagging. Wal-Mart, which owns a 50.9% stake in Seiyu, will pay $1.
October 19, 2007 |
Wal-Mart Stores Inc. is marking down 15,000 items for the holidays as it seeks to reassert itself as the lowest-price merchant. The reductions take effect this week and will last through December. Wal-Mart said it reduced prices on 20% more items than during last year's holiday season.
October 17, 2007 |
A former nun and conflict resolution expert is leaving Wal-Mart Stores Inc., just over a year after she was hired to help the world's largest retailer rally support from environmental groups and other nonprofit organizations in its battles with union-led critics. Harriet Hentges was hired in July 2006 to work with outside groups to develop Wal-Mart policies in areas including the environment and healthcare. Hentges will leave Friday for personal reasons, Wal-Mart spokesman David Tovar said.
October 3, 2007 |
Wal-Mart Stores Inc. considered spinning off its Sam's Club warehouse-club unit last year before deciding against it. "After looking at it for a while, we decided that the best place for Sam's Club is to be part of Wal-Mart," Sam's Club Chief Executive Douglas McMillon said. Wal-Mart didn't discuss the prospect of a spinoff with shareholders, he said.
September 28, 2007 |
Wal-Mart Stores Inc. added 24 prescriptions to a list of $4 generic drugs to lure more customers into its pharmacies and said it would consider a 90-day prescription program.
September 19, 2007 |
Wal-Mart Stores Inc. is expanding the number of healthcare plans it offers employees and giving discounts on some types of coverage in an effort to blunt criticism about benefits. Workers also will be able to pay $4 for a month's supply of any of 2,400 generic prescription drugs, saving them $25 million next year, the company said. Labor and political leaders have criticized Wal-Mart's health plans for being too expensive and have supported legislation to mandate certain benefits.