Here’s Walmart’s new strategy for being your everything (Washington Post, 10/17/13)
“Walmart may be the world’s biggest retailer, but has lost a bit of its swagger in recent years. The chain has been cutting costs so much that it’s struggling to keep some shelves stocked and scrambling to keep up in the instant-delivery age of Amazon. Dollar stores are eating into its low-end customer base; its higher-end urban stores have been slow to emerge; and its international expansion has had some high-profile setbacks.”
“But if those bills have gotten little notice amid the showdown in Washington, another – signed by Brown the Friday afternoon before the shutdown – has gotten even less. It’s a “reform” that critics say waters down what’s been the country’s strongest statewide environmental law – and represents Walmart’s latest lobbying coup in a state where Democrats control every branch of government. ‘It’s amazing to me how few people are willing to stand up to this corporation,’ said Assemblywoman Lorena Gonzalez. ‘And mainly because they’re afraid.'”
Wal-Mart Complains About The Washington Discount (Wall Street Journal, 10/15/13)
The recent foibles in Washington follow pressures on the big box retailer’s core lower-income U.S. consumers, who were hit earlier this year with a higher payroll tax. Wal-Mart had cut its forecast for profits and sales for the year in August after its quarterly sales at stores open at least a year fell 0.3%.
WALMART EXECS: The ‘Unpredictable’ Economy ‘Is A Constant Battle’ (Business Insider, 10/15/13)
“Walmart executives say a ‘tough’ and ‘unpredictable’ economy and gridlock in Congress are hurting business.”