Must-read Walmart clips of the week
After Decades of Toil, Web Sales Remain Small for Many Retailers (The Wall Street Journal, 8/27/2013)
“Web-based sales contributed 0.1 to 0.2 percentage point to Wal-Mart’s 2.4% increase in U.S. comparable-store sales in fiscal 2013 and 1.6% increase in fiscal 2012, Wal-Mart told the SEC in July. The company said it would regularly disclose the same information in future financial reports.”
Mike Duke goes “One-on-One with Maria Bartiromo Today” (CNBC, 8/23/2013)
Walmart CEO Mike Duke is forced to defend Walmart’s low-wage jobs: “But the story of Walmart with our people, it’s not the pay to start it’s the opportunity.” And he suggests that other businesses will have to provide employment to support a middle-class: “You know, we’ve got a middle America that we really need to develop. And that’s where a lot of jobs like manufacturing and others can come into play that we are very involved in.”
Wal-Mart attempts ‘made in America’ push (USA Today, 8/25/2013)
“Some experts are skeptical, pointing out that Wal-Mart led the migration of manufacturing jobs overseas in search of the cheapest labor, veering away from the principles of its late founder Sam Walton, who espoused buying American-made goods.
“In fact, Burt Flickinger III, president of retail consultancy Strategic Resource Group, says what will be brought back will be only a fraction of business sent overseas.
“‘It’s a very positive PR move for the company,’ Flickinger said. ‘But it took two decades to unwind the American manufacturing base and it will take two decades to bring it back.’”
Robert Reich: McDonald’s And Walmart Can Afford $15 An Hour Wages (VIDEO)(Huffington Post, 8/29/2013)
“In a petition he launched on MoveOn.org on August 26, Reich, who served as Secretary of Labor under President Clinton and is also a Huffington Post blogger, urges corporations like McDonald’s and Walmart to increase wages so workers can finally ‘get a fair share in this economy.’ The petition, which had 6,956 on Thursday afternoon, is to be delivered to McDonalds CEO Don Thompson and Walmart CEO Michael Duke.”
Gray to face veto decision on ‘living wage’ bill opposed by Wal-Mart (Washington Post, 8/27/2013)
Facing pressure from Walmart for a veto, District of Columbia Mayor Vincent Gray will decide shortly whether to sign the Large Retailer Accountability Act (LRAA). “[City Councilman and LRAA-backer Phil] Mendelson said that no matter the outcome, he thinks the national attention has worked to proponents’ favor. ‘People cannot live in the District on $8.25 an hour,’ Mendelson said. ‘They can’t.’”