Remember those internal emails that Bloomberg obtained last February, in which a Walmart executive wondered: “Where are all the customers? And where’s their money?”
WinCo, the Idaho-headquartered, employee-owned supermarket chain, has fewer than 100 stores in just seven Western states and is just a fraction of Walmart’s size. But according to one prominent industry analyst, the company is poised for major growth and may ultimately prove to be “Walmart’s worst nightmare.”
Market Force Information’s new grocery retailer study contains no good news for Walmart: It shows the company lagging far behind grocery-selling peers on a “Delight Index” that combines customer satisfaction with likelihood to recommend a store to friends and family:
In 2011, The New York Times reported on the Board of Directors’ decision to alter one of the criteria Walmart used to assess executive performance and thereby executive compensation. The result? As the Times described it, “Shifting the goal posts meant more money for Mr. Duke in the latest fiscal year than he would have received under the old arrangement.”
This morning, Walmart announced disappointing results for the 1st quarter of the fiscal year, making it three quarters in a row where the company’s reported results fell below Wall Street expectations.
Q: “WHERE ARE ALL THE CUSTOMERS? AND WHERE’S THEIR MONEY?” A: IN THE WALTONS’ POCKETS.