Monday, September 24, 2007

Wal-Mart’s goes on a diet!

Wal-Mart Wal-Mart’s goes on a diet!shareholders have a reason to smile. The world’s largest retailer has decided to trim down its store growth (a move to maintain its traditional focus on low prices) in areas like healthcare and environment. It has gone back on its earlier plans and will scale down the number of earlier announced US Supercenter Store openings this fiscal by more than 25%. This would help the company bring down its portion of expenditure by $1.5 billion in the current fiscal year. Moreover, it would enhance the sales of the stores as well! To cut down the fixed expenditure – Wal-Mart has plans to open 190-200 new Supercenters in the US in 2008, the average number standing at 170 for the coming three years. Wal-Mart had said last year, that it will open 265-270 Supercenters in 2008. However, now, around 80 of the Super centers that were scheduled to open next year will now be set up in 2009. Critics who had attacked the company on varied issues like healthcare to wages to buying from China were dismissed by Wal-Mart executives. Instead, Wal-Mart flaunted a bunch of recent initiatives like its $4 generic drug programme and the expansion of its in-store health clinics and much more.

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Source :
IIPM Editorial, 2007

IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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