Tuesday, October 15, 2013

Wal-Mart's growth strategy

Wal-Mart predicts sales will grow faster next year
Wal-Mart Stores Inc (WMT) expects slightly stronger sales growth next year as it makes changes such as opening more smaller U.S. stores and shutting 50 poorly performing stores in Brazil and China, executives said on Tuesday.
Of course they do.  Everyone always expects better sales next year.  And it looks like Wal-Mart has a plan, although it does depend on technological glitches, government failure, and greed (pretty good bets these days, I think):

EBT card system failure leads to empty shelves in Louisiana Walmart stores
The Louisiana Department of Children and Family Services is investigating possible fraud allegations stemming from the incidents, according to a spokesperson.
Nope, no fraud there.  It was all just a mistake.  Cuz, you know, it's really hard to have any idea whatsoever how much you've actually got left to spend on those darn cards.  This woman's story demonstrates just how hard it is:
One woman in Springhill was detained by police after trying to get $700 worth of food when she only had 49 cents on her card.
Yeah, the management at Wal-Mart really came through, in a clear case of helping their fellow man:
“We did make the decision to continue to accept EBT cards during the outrage so they could get food for their families,” Walmart representative Kayla Whaling said. 
Well, my guess is it turned out to be a pretty darn good day for sales at Wal-Mart.  I just have a sinking feeling that the taxpayers will be the ones footing the bill.

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