Tuesday, February 22, 2011

In the news: Walmart Grapples With Its Worst Sales Slump Ever

It's a sad, sad day for me. Walmart totally does not get why it has a sales slump. Their analysis is completely off. My "list of grievances" with Walmart outlines the problems they have quite clearly. Obviously they missed my post. ;)

Anyway, the article I'm speaking of says
Wal-Mart Stores Inc. is in the midst of its worst U.S. sales slump ever.

When it reports earnings on Tuesday, the retailer is widely expected to post its second straight year of declining domestic same-store sales.

Wal-Mart's struggles are the result of a misstep: To jump-start lethargic growth and counter the rise of competitors such as cheap-chic rival Target Corp., executives veered away from the winning formula of late founder Sam Walton to provide "every day low prices" to the American working class. Wal-Mart, the world's biggest retailer by sales, instead raised prices on some items while promoting deals on others.

Company executives acknowledge having miscalculated and are adjusting their strategy again. The big question is how quickly the mammoth chain can turn itself around. [Read more.]
The list of things they believe have caused this is in the article, but I read it in total disbelief. It's really very sad that they are as clueless as they are. I don't know whether to laugh or cry.
My other post(s) you may be interested in:

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