While health care costs continue to be a top concern for consumers, WalMart Stores, Inc. (NYSE: WMT) is furthering its efforts to help customers save money by driving down prescription medication costs and providing ongoing savings through its pharmacy offerings.
Expected to save WalMart customers millions annually, today’s announcement is phase three of WalMart’s $4 Prescription Program, which now covers a 90-day prescription for $10, additional women’s health medications and a new $4 over-the-counter (OTC) offer. The 90-day option gives more choices to customers and physicians who may have been limited to mail order prescriptions in the past.
”More and more people find health care, and particularly prescribed medicines, difficult to afford. This is one of the reasons we continually work to take our $4 Prescription Program to the next level,” said Dr. John Agwunobi, WalMart senior vice president and president, health and wellness. “We’re succeeding in our efforts to deliver simple, affordable, quality pharmacy solutions for families struggling with the rising costs of health care. And, our customers – and their budgets – are seeing a dramatic difference.”
• Enhanced $4 Prescription Program – Beginning today, WalMart, Neighborhood Market and Sam’s Club pharmacies will fill prescriptions for up to 350 generic medications at $10 for a 90-day supply. This option will give customers an additional choice and save them time and money without the hassle of purchasing or signing-up for a pharmacy discount card.
• Additional women’s health medicines – Expanding on the women’s medicines added to Wal-Mart’s prescription program in September 2007, Alendronate , the recently introduced generic version of Fosamax® used to treat osteoporosis, is now available at Wal-Mart, Neighborhood Market and Sam’s Club pharmacies for $9 for up to a 30-day supply or $24 for a 90-day supply. Compared to the $54 that women previously paid for the same generic supply or $102 for the same branded supply, Wal-Mart could save osteoporosis patients between $45 and $93 per month or up to $1,116 per year. In addition, medications to treat breast cancer (tamoxifen), menopause and hormone deficiency (combination estrogen/methyltestosterone tablets) were also added to the growing list of $9 women’s medications. Combined, Wal-Mart estimates that this expansion alone will save women more than $100 million annually.
• New $4 OTC offering – WalMart Stores and Neighborhood Markets today began a new $4 OTC program, offering customers more than 1,000 OTC items priced at $4 or less without a prescription. WalMart has rolled back prices on key OTC items to ensure that almost one-third of its OTC medicines are now $4 or lower. Now, many commonly used OTC medicines such as the Equate-brand versions of popular drugs like Zantac®, Pepcid® and Claritin® are priced at $4, approximately 50 percent lower than many national chain drugstores and grocers based on Wal-Mart’s internal research.
Women’s health products like WalMart’s Spring Valley-branded prenatal vitamins were also lowered to $4 as part of the $4 OTC program now available at Wal-Mart Stores and Neighborhood Markets.
"There is no better time than Women's Health Month to strengthen our commitment to women by addressing some of their unique health care needs," said Linda Dillman, executive vice president for benefits and risk management for WalMart Stores, Inc. “By offering these medications at affordable prices, we are helping women make their health a top priority and live longer, healthier and happier lives."
"Access to affordable prescription medicines is vitally important to the health and well-being of Texans. I applaud Wal-Mart's efforts to make this a reality through their $4 Program," said Governor Rick Perry (Texas).
Up to 95 percent of the prescriptions written in the majority of therapeutic categories are included in the $4 Prescription Program available at Wal-Mart, Neighborhood Market and Sam’s Club pharmacies nationwide. The affordable prices for these prescriptions are available for commonly prescribed dosages for up to 30-days or 90-days.
Launched in Tampa, Florida in September 2006, Wal-Mart’s $4 Prescription Program quickly expanded to 49 states (WalMart does not operate in-store pharmacies in its North Dakota stores). WalMart has also introduced a similar discount program in Puerto Rico, Mexico and Brazil, bringing significant savings to customers in those markets. Today, the program is available at the more than 4,000 Wal-Mart, Sam’s Club and Neighborhood Market pharmacies throughout the United States and has saved Wal-Mart customers more than $1 billion since its inception ($1,163,726,502.08 as of April 28, 2008 – visit www.livebetterindex.com for a state-by-state breakdown of savings).
Certain drugs are priced higher than $4 (for up to 30-day supplies) and $10 (for 90-day supplies) in California, Colorado, Hawaii, Minnesota, Montana, Pennsylvania, Tennessee, Wisconsin and Wyoming.
Generic medications contain the same active ingredients as their “brand-name” counterparts, but cost significantly less. Consumers interested in saving money through the program should ask their doctors if a generic is available for their prescription and is right for them.
Friday, December 26, 2008
Thursday, December 25, 2008
Wal-Mart International
"Economic conditions around the world continue to put pressure on consumers," said Mike Duke, vice chairman, Wal-Mart International. "While this is impacting our and other businesses, we are uniquely positioned by our stability and every day low price strategy to help customers in these difficult times. This is reflected in our sales results, on a constant currency basis."
In the October period, sales results were significantly impacted by the strengthening U.S. dollar. Results from each country are discussed on a constant currency basis, before any impact from exchange rates.
In a difficult economic environment in the United Kingdom, ASDA had another strong month as a result of increased customer count and ticket. Comparable store sales were strongest in grocery and clothing. In general merchandise, sales of Halloween merchandise were ahead of expectations.
Hypermarkets and the Maxxi cash-and-carry business led Wal-Mart Brazil to a mid single digit real comparable store sales increase. Pharmacy, electronics and computer sales performed well in October.
The supercentre expansion program, which added two more openings in Ontario, fueled high single digit sales growth at Wal-Mart Canada. Comparable store sales there were in the low single digits, as a result of increased average ticket and electronics and food sales.
Higher average ticket pushed Wal-Mart China comparable store sales to the mid single digits. Trust-Mart comparable store sales were in the low single digits, driven by increased customer count.
At Seiyu in Japan, comparable store sales were in the negative mid single digits. While food sales were down, certain food categories were up due to improved pricing and higher sales of Great Value brand items. Consumables increased in the mid single digits, driven by a continued shift to every day low pricing.
The economic slowdown continued to impact sales in Mexico, where nominal comparable store sales were 0.4 percent lower. The strongest performances came from Bodega Aurrera and Sam's Club, with continued weakness in the discretionary spending formats, Suburbia and Vips.
Wednesday, December 24, 2008
Wal-Mart Canada bumps "Boxing Day" deals up a week
The first time ever, Wal-Mart Canada stores nationwide are kicking off Boxing Day a week early with price reductions on the season's top gifts. Beginning today - and for 13 days straight until New Year's Eve - Wal-Mart Canada is offering savings on top electronics, toys, housewares and apparel.
Boxing Day is traditionally among the busiest shopping days of the year.
Customer research and economic trends suggest many Canadians are significantly more price conscious this year than in past - and may defer purchases until Boxing Day. Historically, popular Boxing Day purchases include electronics, toys and apparel. "We don't think Canadians should have to wait until Boxing Day to start their Christmas shopping or to save money," said Sylvain Prud'homme, Wal-Mart Canada's senior vice president of merchandise. "At an expensive time of year and in this economy, early Boxing Day deals are the best gift we could give
Canadians."
Wal-Mart Canada's pre-Boxing Day price reductions include:
- Wii Wireless White Guitar, $19.94
- Acer Dual Core 14.1" Laptop, $449.98
- iPod Touch, $227.97
- RCA 42" Full 1080P LCD HDTV, $797.77
- Magnavox Blu-ray Disc Player, $147.97
- Panasonic 1.2 cubic foot inverter microwave, $89.00
- George Foreman grill, $89.00
- 2.5 horsepower treadmill, $450.00
- Twin 180-thread count sheet sets, $6
- Penmans 5-pocket jeans, $10
"If you ask our one-million daily customers why they choose Wal-Mart, most will say they like the service and selection, but every single one will tell you they love the prices. More than any time and any year before, we think it's our time to shine for those customers and to help them save money,"
added Prud'homme.
Wal-Mart Canada's pre-Boxing Day event is supported by a four-page flyer. Customers can expect more price reductions for Boxing Day and Week. Until the end of December, customers can enjoy additional flexibility with 24-hour shopping at 192 of the company's 310 stores nationwide.
Boxing Day is traditionally among the busiest shopping days of the year.
Customer research and economic trends suggest many Canadians are significantly more price conscious this year than in past - and may defer purchases until Boxing Day. Historically, popular Boxing Day purchases include electronics, toys and apparel. "We don't think Canadians should have to wait until Boxing Day to start their Christmas shopping or to save money," said Sylvain Prud'homme, Wal-Mart Canada's senior vice president of merchandise. "At an expensive time of year and in this economy, early Boxing Day deals are the best gift we could give
Canadians."
Wal-Mart Canada's pre-Boxing Day price reductions include:
- Wii Wireless White Guitar, $19.94
- Acer Dual Core 14.1" Laptop, $449.98
- iPod Touch, $227.97
- RCA 42" Full 1080P LCD HDTV, $797.77
- Magnavox Blu-ray Disc Player, $147.97
- Panasonic 1.2 cubic foot inverter microwave, $89.00
- George Foreman grill, $89.00
- 2.5 horsepower treadmill, $450.00
- Twin 180-thread count sheet sets, $6
- Penmans 5-pocket jeans, $10
"If you ask our one-million daily customers why they choose Wal-Mart, most will say they like the service and selection, but every single one will tell you they love the prices. More than any time and any year before, we think it's our time to shine for those customers and to help them save money,"
added Prud'homme.
Wal-Mart Canada's pre-Boxing Day event is supported by a four-page flyer. Customers can expect more price reductions for Boxing Day and Week. Until the end of December, customers can enjoy additional flexibility with 24-hour shopping at 192 of the company's 310 stores nationwide.
Thursday, December 18, 2008
Wal-Mart Canada gives Canadians $35 for Christmas dinner for eight
WalMart Canada is aiming to put savings on Canadian tables this Christmas with hundreds of price reductions on food, in addition to its Everyday Low Prices. WalMart Canada's Super Center locations nationally are offering customers Rollback price reductions and
Everyday Low Prices so they can purchase all the items they need to prepare an eight-person Christmas turkey dinner for less than $35.
In addition to gifts, groceries make up a large part of shoppers' budgets over the holidays. Despite the current economic worries, customer research indicates that Canadians are still determined to celebrate the holidays with friends, family and good food. With significantly more total Rollbacks over this time last year, WalMart Canada is having a record year in its number of price reductions. "We plan to keep helping Canadians stretch their holiday
dollars with price reductions that make a real difference to their wallets," said Les Mann, WalMart Canada's vice president of food. "Whether customers are cooking a turkey with all the trimmings, baking or entertaining this holiday, WalMart Canada aims to provide Canadians with the food and Christmas dinner they want this holiday without the financial worry."
Shoppers at WalMart Canada's 43 Super Center locations nationally can purchase the following items for a Christmas turkey dinner for eight for less than $35(*):
<< - 10lb bag of potatoes - 4 cans of Green Giant canned vegetables (selected varieties) - 2 boxes of Stove top stuffing mix - Frozen Grade A 8lb turkey - 1 can of Campbell's turkey gravy - 2 cans of Ocean Spray cranberry sauce - 1 package of Pillsbury crescent rolls - 10" apple pie - 2 bottles of Perrier
(*)Prices effective until December 24. Prices in some markets may vary.
Everyday Low Prices so they can purchase all the items they need to prepare an eight-person Christmas turkey dinner for less than $35.
In addition to gifts, groceries make up a large part of shoppers' budgets over the holidays. Despite the current economic worries, customer research indicates that Canadians are still determined to celebrate the holidays with friends, family and good food. With significantly more total Rollbacks over this time last year, WalMart Canada is having a record year in its number of price reductions. "We plan to keep helping Canadians stretch their holiday
dollars with price reductions that make a real difference to their wallets," said Les Mann, WalMart Canada's vice president of food. "Whether customers are cooking a turkey with all the trimmings, baking or entertaining this holiday, WalMart Canada aims to provide Canadians with the food and Christmas dinner they want this holiday without the financial worry."
Shoppers at WalMart Canada's 43 Super Center locations nationally can purchase the following items for a Christmas turkey dinner for eight for less than $35(*):
<< - 10lb bag of potatoes - 4 cans of Green Giant canned vegetables (selected varieties) - 2 boxes of Stove top stuffing mix - Frozen Grade A 8lb turkey - 1 can of Campbell's turkey gravy - 2 cans of Ocean Spray cranberry sauce - 1 package of Pillsbury crescent rolls - 10" apple pie - 2 bottles of Perrier
(*)Prices effective until December 24. Prices in some markets may vary.
Wednesday, December 17, 2008
The Salvation Army and Wal-Mart Canada Partner
Wal-Mart Canada will host The Salvation Army's first ever National Kettle Launch at various stores across the country, marking the beginning of The Salvation Army's 2008 Christmas Campaign.
Beginning at 9:00 a.m. local time, The Salvation Army and Wal-Mart associates will ring the bells and invite customers to support the annual campaign, which
will run from mid-November until Christmas Eve in hundreds of its stores nationwide.
In 2007, Wal-Mart stores became the single largest fund raising venue for The Salvation Army's Christmas Kettle Campaign.
For over 100 years, the kettles have been, and continue to be, an efficient method of raising funds to support the community and social work of
The Salvation Army. Funds raised during this time will be used to combat poverty in communities across Canada at Christmas and throughout the year.
Nearly five million Canadians, including more than one million children, live in poverty today. Poverty remains the root of many of the social service problems
The Salvation Army sees every day and in these uncertain economic times that need is likely to increase.
"We are extremely grateful for the generous support provided by Wal-Mart Canada," says Commissioner William W, Francis, Territorial Commander of The
Salvation Army Canada and Bermuda.
"Last year, on top of a cash donation from Wal-Mart Canada of $100,000, over $1.3 million was raised at Wal-Mart stores
alone and given the added economic burdens many will be facing this year, we are hopeful that goal will be surpassed."
"Wal-Mart Canada is proud to partner with The Salvation Army and to help raise funds to aid more than 1.5 million Canadians in need," said Lina Di
Diodato, manager of community involvement for Wal-Mart Canada. "We expect this year's kettle campaign will be our best ever, and supported by other in-store
events including Angel Tree and Adopt-a-Family initiatives."
The annual Christmas campaign, which raised more than $23 million in 2007, has grown into one of Canada's most significant and recognizable annual
charitable events.
About The Salvation Army:
The Salvation Army is an international Christian organization that began
its work in Canada in 1882 and has grown to become the largest
non-governmental direct provider of social services in the country. The
Salvation Army gives hope and support to vulnerable people today and everyday
in 400 communities across Canada and 115 countries around the world. The
Salvation Army offers practical assistance for children and families, often
tending to the basic necessities of life, provide shelter for homeless people
and rehabilitation for people who have lost control of their lives to an
addiction.
About WalMart Store Canada:
Headquartered in Mississauga, Ontario, the company operates a growing
network of 310 outlets and one of the strongest community involvement programs
in Canada. Wal-Mart gives back to local communities in ways that matter most
to its customers and associates. In 2007, the company raised and donated more
than $19 million or $365,000 weekly, to charities and organizations in need.
Beginning at 9:00 a.m. local time, The Salvation Army and Wal-Mart associates will ring the bells and invite customers to support the annual campaign, which
will run from mid-November until Christmas Eve in hundreds of its stores nationwide.
In 2007, Wal-Mart stores became the single largest fund raising venue for The Salvation Army's Christmas Kettle Campaign.
For over 100 years, the kettles have been, and continue to be, an efficient method of raising funds to support the community and social work of
The Salvation Army. Funds raised during this time will be used to combat poverty in communities across Canada at Christmas and throughout the year.
Nearly five million Canadians, including more than one million children, live in poverty today. Poverty remains the root of many of the social service problems
The Salvation Army sees every day and in these uncertain economic times that need is likely to increase.
"We are extremely grateful for the generous support provided by Wal-Mart Canada," says Commissioner William W, Francis, Territorial Commander of The
Salvation Army Canada and Bermuda.
"Last year, on top of a cash donation from Wal-Mart Canada of $100,000, over $1.3 million was raised at Wal-Mart stores
alone and given the added economic burdens many will be facing this year, we are hopeful that goal will be surpassed."
"Wal-Mart Canada is proud to partner with The Salvation Army and to help raise funds to aid more than 1.5 million Canadians in need," said Lina Di
Diodato, manager of community involvement for Wal-Mart Canada. "We expect this year's kettle campaign will be our best ever, and supported by other in-store
events including Angel Tree and Adopt-a-Family initiatives."
The annual Christmas campaign, which raised more than $23 million in 2007, has grown into one of Canada's most significant and recognizable annual
charitable events.
About The Salvation Army:
The Salvation Army is an international Christian organization that began
its work in Canada in 1882 and has grown to become the largest
non-governmental direct provider of social services in the country. The
Salvation Army gives hope and support to vulnerable people today and everyday
in 400 communities across Canada and 115 countries around the world. The
Salvation Army offers practical assistance for children and families, often
tending to the basic necessities of life, provide shelter for homeless people
and rehabilitation for people who have lost control of their lives to an
addiction.
About WalMart Store Canada:
Headquartered in Mississauga, Ontario, the company operates a growing
network of 310 outlets and one of the strongest community involvement programs
in Canada. Wal-Mart gives back to local communities in ways that matter most
to its customers and associates. In 2007, the company raised and donated more
than $19 million or $365,000 weekly, to charities and organizations in need.
Walmart Store in Canada Awarded Best Employer for 50 years old Canadians
For the second year in a row, WalMart Canada has been listed among the best employers for Canadians aged 50 and above, as identified by the Workplace Institute and judged by an independent panel of professionals specializing in mature workforce issues. As the only retailer on the list, WalMart Canada was recognized for its innovative approaches to retirement, management practices and attracting and retaining mature workers.
In 2008, WalMart Canada introduced progressive retirement services, a program to help the company effectively retain and recruit more experienced workers with work-life flexibility options. The program allows retirees to return to work as consultants, special project managers or mentors to continue to be engaged and support the business. For the growing number of aging Canadians looking for extra income or activity, WalMart also offers many in-store positions including, but not limited to, the popular people greeter position.
"In a climate of labor shortages nationwide, aging population growth and the expansion of our company, we see the value of mature employees," said Karen Casey, senior vice president, people division for WalMart Store of Canada. "
Our corporate culture embraces the needs of older workers and capitalizes on their
capabilities making WalMart Store a favorite place to work for 50-Plus Canadians."
"The fact that Wal-Mart Canada is a repeat winner of the Best Employer for 50-Plus Canadians illustrates Wal-Mart's commitment to its diverse workforce," said Workplace Institute's Barbara Jaworski, founder of the awards and author of KAA-BOOM! How to Engage the 50-Plus Worker and Beat the Workforce Crisis. "Wal-Mart's engagement model has helped make the company a place for talent for Canadians of all ages."
What people think about Wal-Mart Canada
Wal-Mart Canada serves more than one million Canadians each day at its 310
outlets. With more than 77,000 associates, the company is one of Canada's
largest employers.
Fast Facts
- Wal-Mart employs more than 77,000 associates in 310 outlets nationwide
making the company Canada's fourth largest employer
- Wal-Mart Canada's business model is based on being Canada's favourite
place to work.
- The Wal-Mart Canada Diversity Council was established to create a
culture of inclusion that encourages the unique qualities of each
associate and celebrates how individual differences bring value to
customers and the workplace.
- The Wal-Mart Canada Progressive Retirement Services project develops
work-life flexibility options aimed at taking care of our associates
and business needs. This work-life flexibility will enable the company
to effectively retain and recruit more experienced workers.
- Approximately, 25 per cent of Wal-Mart Canada's workforce is over the
age of 50.
In 2008, WalMart Canada introduced progressive retirement services, a program to help the company effectively retain and recruit more experienced workers with work-life flexibility options. The program allows retirees to return to work as consultants, special project managers or mentors to continue to be engaged and support the business. For the growing number of aging Canadians looking for extra income or activity, WalMart also offers many in-store positions including, but not limited to, the popular people greeter position.
"In a climate of labor shortages nationwide, aging population growth and the expansion of our company, we see the value of mature employees," said Karen Casey, senior vice president, people division for WalMart Store of Canada. "
Our corporate culture embraces the needs of older workers and capitalizes on their
capabilities making WalMart Store a favorite place to work for 50-Plus Canadians."
"The fact that Wal-Mart Canada is a repeat winner of the Best Employer for 50-Plus Canadians illustrates Wal-Mart's commitment to its diverse workforce," said Workplace Institute's Barbara Jaworski, founder of the awards and author of KAA-BOOM! How to Engage the 50-Plus Worker and Beat the Workforce Crisis. "Wal-Mart's engagement model has helped make the company a place for talent for Canadians of all ages."
What people think about Wal-Mart Canada
Wal-Mart Canada serves more than one million Canadians each day at its 310
outlets. With more than 77,000 associates, the company is one of Canada's
largest employers.
Fast Facts
- Wal-Mart employs more than 77,000 associates in 310 outlets nationwide
making the company Canada's fourth largest employer
- Wal-Mart Canada's business model is based on being Canada's favourite
place to work.
- The Wal-Mart Canada Diversity Council was established to create a
culture of inclusion that encourages the unique qualities of each
associate and celebrates how individual differences bring value to
customers and the workplace.
- The Wal-Mart Canada Progressive Retirement Services project develops
work-life flexibility options aimed at taking care of our associates
and business needs. This work-life flexibility will enable the company
to effectively retain and recruit more experienced workers.
- Approximately, 25 per cent of Wal-Mart Canada's workforce is over the
age of 50.
Tuesday, December 16, 2008
Wal-Mart Canada reduce their prices in Christmas categories
Wal-Mart Canada Stores nationwide have reduced thousands of prices on items like toys, electronics, housewares and small appliances, to help Canadians celebrate the holidays.
The company announced today plans for thousands of additional Rollback price reductions in these categories, reducing hundreds of prices each week leading to Christmas.
With significantly more Rollbacks across the entire store than this time last year, Wal-Mart Canada is having a record year for price reductions and anticipates it will save Canadians millions of dollars by year-end.
A Maritz Research survey, released today, found that Wal-Mart Canada is the number-one choice of Canadians for holiday shopping this year. According to the survey, sales and special holiday pricing were a primary driver for Canadians in determining where they shop.
"Our starting point is a commitment to the best prices in the market, but Canadians need our even lower prices now more than ever," said Sylvain Prud'homme, Wal-Mart Canada's senior vice president of merchandise. "This is our best year for price reductions and we're just hitting our stride."
Sales data and research indicate that despite economic concerns,
customers are determined to give their families a nice Christmas. They are shopping on the basis of price, comparing pricing between stores and are more concerned with sticking to a set budget. Research also indicates that customers plan to shop earlier than in the past to better manage their spending.
"Customers are feeling financially pinched and we're responding with
record-low pricing so that customers can have what they need and want this holiday season." "Our sales data shows that customers are still intent on celebrating Christmas and we're ready to provide savings that matter around the home and under the tree."
From toys to electronics, examples of Rollbacks include:
Toys: The toy department has hundreds of Rollbacks and has introduced nearly 15 per cent more price reductions than this time last year. The Power Wheels AT-Rex motorized ATV is $199.93 (was $399.93).
The Baby Alive Potty Doll is $49.94 (was $58.94).
Electronics: Electronics has hundreds of Rollbacks and has introduced nearly 15 per cent more price reductions than this time last year.
The Samsung
40" LCD HDTV is $797.63 (was $997.63). The Venturer DVD Home Theatre is $57.77 (was $79.97).
Housewares: Housewares has hundreds of Rollbacks and has introduced nearly 25 per cent more price reductions than this time last year.
The Rachel Ray 10-piece stainless steel cookware set is $149.93 (was $199.97).
The J.A. Henckels 6-piece knife block set is $47.77 (was $79.97).
Small Appliances: Small appliances has hundreds of Rollbacks and has
introduced nearly 40 per cent more price reductions than this time last year.
The Kitchen Aid stand mixer is $219.88 (was $279.96). The Black & Decker 12-cup coffee maker is $39.88 (was $59.97).
The company announced today plans for thousands of additional Rollback price reductions in these categories, reducing hundreds of prices each week leading to Christmas.
With significantly more Rollbacks across the entire store than this time last year, Wal-Mart Canada is having a record year for price reductions and anticipates it will save Canadians millions of dollars by year-end.
A Maritz Research survey, released today, found that Wal-Mart Canada is the number-one choice of Canadians for holiday shopping this year. According to the survey, sales and special holiday pricing were a primary driver for Canadians in determining where they shop.
"Our starting point is a commitment to the best prices in the market, but Canadians need our even lower prices now more than ever," said Sylvain Prud'homme, Wal-Mart Canada's senior vice president of merchandise. "This is our best year for price reductions and we're just hitting our stride."
Sales data and research indicate that despite economic concerns,
customers are determined to give their families a nice Christmas. They are shopping on the basis of price, comparing pricing between stores and are more concerned with sticking to a set budget. Research also indicates that customers plan to shop earlier than in the past to better manage their spending.
"Customers are feeling financially pinched and we're responding with
record-low pricing so that customers can have what they need and want this holiday season." "Our sales data shows that customers are still intent on celebrating Christmas and we're ready to provide savings that matter around the home and under the tree."
From toys to electronics, examples of Rollbacks include:
Toys: The toy department has hundreds of Rollbacks and has introduced nearly 15 per cent more price reductions than this time last year. The Power Wheels AT-Rex motorized ATV is $199.93 (was $399.93).
The Baby Alive Potty Doll is $49.94 (was $58.94).
Electronics: Electronics has hundreds of Rollbacks and has introduced nearly 15 per cent more price reductions than this time last year.
The Samsung
40" LCD HDTV is $797.63 (was $997.63). The Venturer DVD Home Theatre is $57.77 (was $79.97).
Housewares: Housewares has hundreds of Rollbacks and has introduced nearly 25 per cent more price reductions than this time last year.
The Rachel Ray 10-piece stainless steel cookware set is $149.93 (was $199.97).
The J.A. Henckels 6-piece knife block set is $47.77 (was $79.97).
Small Appliances: Small appliances has hundreds of Rollbacks and has
introduced nearly 40 per cent more price reductions than this time last year.
The Kitchen Aid stand mixer is $219.88 (was $279.96). The Black & Decker 12-cup coffee maker is $39.88 (was $59.97).
Monday, December 15, 2008
Canadian Wal-Mart stores open their doors around the clock until Christmas
Recently named the top holiday shopping
destination for Canadians, Wal-Mart Canada today announced that it will
operate 192 of its 310 stores nationwide around the clock in December. The
majority of Wal-Mart stores nationwide will open their doors on December 1 and
leave them open until closing time on Christmas Eve, 576 hours later.
Advertised locally on radio, in newspapers, and in stores, 24-hour store
listings will be available at www.wal-mart.ca/24hourstores and are listed
below.
A survey released this week by Maritz Research shows that Wal-Mart Canada
is the number-one destination for Canadian holiday shoppers. In the survey, 41
per cent of Canadian customers indicate that extended store hours play a
determining role in their choice of shopping destinations.
"This is an unprecedented number of stores open for an unprecedented
length of time, but it's clear the popularity of 24-hour shopping is growing
with Canadians," said Jim Thompson, Wal-Mart Canada's senior vice president of
operations. "The message to customers is simple: Wal-Mart is ready for you
when you're ready to shop."
In recent years, Wal-Mart Canada has tested 24-hour openings during busy
retail periods, like back-to-school and Christmas time. In January 2008 the
company opened 25 stores around the clock permanently, subsequently expanding
to 30 stores. The company continues to hear growing demand for extended hours.
"We're always asked 'Who in the world would shop around the clock?', but
late-night and early morning shoppers are just busy people like you and me,"
said Thompson. "We expect the extra hours will be popular with everyone from
families to shift workers. For many people, shopping is simply more convenient
when the kids are in bed or you're heading home from an off-hour job or
commitment."
One or more Wal-Mart stores in the following cities will operate
24-hours-a-day from December 1 until closing time on December 24, unless
otherwise noted. Customers should confirm exact locations and schedules at
www.wal-mart.ca/24hourstores online Friday.
Alberta: Brooks; Calgary; Cold Lake; Drayton Valley; Edmonton; Edson;
Fort McMurray; Grande Prairie; Lethbridge; Medicine Hat; Okotoks; Red Deer;
Sherwood Park; Spruce Grove; St. Albert; Stettler; Strathmore; Wetaskiwin;
Whitecourt.
British Columbia: Burnaby; Clearbrook; Courtenay; Cranbrook; Dawson
Creek; Duncan; Kamloops; Kelowna; Langford; Langley; Nanaimo; Nelson; New
Westminster; North Vancouver; Penticton; Port Alberni; Prince George; Quesnel;
Surrey; Terrace; Trail; Vernon; Victoria; Westbank; Whiterock.
Manitoba: Brandon; Dauphin; Flin Flon; Portage la Prairie; Selkirk;
Thompson; Transcona; Winnipeg.
New Brunswick: Bathurst; Fredericton; Grand Falls (open Dec. 15-24);
Miramachi; Moncton; Saint John; Sussex (open Dec. 15-24); Woodstock (open Dec.
15-24).
Newfoundland: Carbonear; Clarenville; Corner Brook; Gander; Grand Falls
(open Dec. 14-24); St. John's.
Nova Scotia: Bridgewater; Amherst; Antigonish (open Dec. 15-24);
Dartmouth; Dibgy (open Dec. 15-24); Halifax; New Glasgow; New Minas; Port
Hawkesbury (open Dec. 15-24); Sackville; Sydney; Truro; Yarmouth (open Dec.
15-24).
Ontario: Agincourt; Ajax; Barrhaven; Barrie; Belleville; Bolton;
Brampton; Brantford; Brockville; Burlington; Cambridge; Chatham; Cobourg;
Collingwood; Cornwall; Dryden; Etobicoke; Fort Erie; Fort Frances; Georgetown;
Guelph; Kanata; Kenora; Kingston; Kitchener; Leamington; London; Markham;
Meadowvale; Midland; Milton; Mississauga; Napanee; New Liskeard; Newmarket;
Niagara Falls; North Bay; Oakville; Orangeville; Orillia; Orleans; Oshawa;
Ottawa; Owen Sound; Pembroke; Peterborough; Pickering; Richmond Hill; Sarnia;
Scarborough; Smith Falls; St. Catharines; St. Thomas; Thornhill; Thunder Bay;
Timmins; Toronto; Trenton; Vaughan; Welland; Whitby; Windsor; Woodstock.
Prince Edward Island: Charlottetown; Summerside (open Dec. 15-24).
Saskatchewan: Moose Jaw; North Battleford; Prince Albert; Regina;
Saskatoon; Swift Current; Yorkton.
Wal-Mart Canada serves more than one million Canadians each day in 310
stores nationwide. With more than 77,000 associates, the company is one of the
nation's largest employers. The retailer also operates one of Canada's
strongest community involvement programs focused on supporting national and
local charities in every region of the country.
Wednesday, December 10, 2008
Cash-conscious Canadians grabbing many gift cards: Wal-Mart Canada
WalMart Canada has witnessed continued growth in the popularity of its gift
cards this holiday season, a trend the company attributes to economic uncertainty, the growing creativity of the category, and the virtual guarantee of customers finding what they want at
WalMart.
Both customer sales and selection of gift cards have grown at
WalMart Canada this year.
Sales of gift cards have seen recent double-digit growth over last year,
making them one of WalMart Canada's most-improved gift items this year. Based
on past years, WalMart anticipates that the majority of holiday gift cards
will be spent within 10 days of Christmas, and almost all by the end of
January.
With tens of thousands of items in each store, WalMart offers a huge
range of selection for gift card purchases. Past sales data indicates that
post-holiday gift card use at WalMart generally focuses first on electronics
like ipods and video games, followed closely by food products like Kraft
Dinner.
The company has added 17 new varieties of card designs and now offers
more than 50 different styles, including holograms, hockey cards, and a
scratch n' sniff gingerbread house. Currently, Canadian sales data shows a
kitten in a gift box edging out Santa as the favorite gift-card image -
though the two are running neck-and-neck.
"In challenging times Canadian shoppers want practical choices like gift
cards," said Trudy Fa hie, Vice President of Financial Services, Wal-Mart
Canada Corp. "Giving a Wal-Mart gift card is like giving the gift of great
prices and choice. In this economy, and particularly at Christmas, people are
balancing between items they need and items they want - and a Wal-Mart gift
card offers the choice of thousands of products from fashion to toys,
electronics to household necessities, food to decor."
For those choosing to redeem gift cards quickly, WalMart Canada has
lowered thousands of prices in the lead-up to Christmas and plans to offer
Boxing Week promotions that will make customers' dollars - or gift cards - go
further.
"Customers see WalMart gift cards as a safe harbor," said Fa hie. "They
know we've got something for everyone, and they can rest assured that even in
these tough times our stores will be there when customers want to cash in."
WalMart Canada operates 310 stores nationwide and serves more than one
million Canadians daily. With 77,000 associates, it is one of the nation's
largest employers.
For further information: Felicia Fefer, Corporate Affairs, Wal-Mart
Canada, (905) 821-2111 x. 4466
cards this holiday season, a trend the company attributes to economic uncertainty, the growing creativity of the category, and the virtual guarantee of customers finding what they want at
WalMart.
Both customer sales and selection of gift cards have grown at
WalMart Canada this year.
Sales of gift cards have seen recent double-digit growth over last year,
making them one of WalMart Canada's most-improved gift items this year. Based
on past years, WalMart anticipates that the majority of holiday gift cards
will be spent within 10 days of Christmas, and almost all by the end of
January.
With tens of thousands of items in each store, WalMart offers a huge
range of selection for gift card purchases. Past sales data indicates that
post-holiday gift card use at WalMart generally focuses first on electronics
like ipods and video games, followed closely by food products like Kraft
Dinner.
The company has added 17 new varieties of card designs and now offers
more than 50 different styles, including holograms, hockey cards, and a
scratch n' sniff gingerbread house. Currently, Canadian sales data shows a
kitten in a gift box edging out Santa as the favorite gift-card image -
though the two are running neck-and-neck.
"In challenging times Canadian shoppers want practical choices like gift
cards," said Trudy Fa hie, Vice President of Financial Services, Wal-Mart
Canada Corp. "Giving a Wal-Mart gift card is like giving the gift of great
prices and choice. In this economy, and particularly at Christmas, people are
balancing between items they need and items they want - and a Wal-Mart gift
card offers the choice of thousands of products from fashion to toys,
electronics to household necessities, food to decor."
For those choosing to redeem gift cards quickly, WalMart Canada has
lowered thousands of prices in the lead-up to Christmas and plans to offer
Boxing Week promotions that will make customers' dollars - or gift cards - go
further.
"Customers see WalMart gift cards as a safe harbor," said Fa hie. "They
know we've got something for everyone, and they can rest assured that even in
these tough times our stores will be there when customers want to cash in."
WalMart Canada operates 310 stores nationwide and serves more than one
million Canadians daily. With 77,000 associates, it is one of the nation's
largest employers.
For further information: Felicia Fefer, Corporate Affairs, Wal-Mart
Canada, (905) 821-2111 x. 4466
Wal-Mart International
Wal-Mart is truly an international company with operations in Canada, United States, UK, Argentina, Brazil, Japan, China, Mexico and Puerto Rico.
Wal-Mart succeeds internationally because of its ability to transport the company's unique culture and effective retailing concepts to each new country. Associates get involved in the local communities and adapt to local cultures. They respond to customer needs, merchandise preferences and local suppliers. By serving each hometown in its own unique way, Wal-Mart International has realized significant growth, with potential for much greater development worldwide.
Wal-Mart International has achieved global expansion through a combination of new store construction and acquisitions. This strategy has given the company excellent market penetration and positioned it for future development. The company sees its development throughout North America, Latin America, Asia and Europe as a good beginning with many promising areas for further expansion.Wal-Mart became an international company in 1991 when a SAM'S CLUB opened near Mexico City. Just two years later, the Wal-Mart International Division was created to oversee growing opportunities worldwide. Today, customers at more than 1,300 stores and clubs in nine countries prove that Wal-Mart's 'Every Day Low Price' promise is a message clearly understood in any language.
An interesting dialog about wal mart pharmacy
Question: Has anyone else noticed the clerks at Wal-Mart pharmacy counting pills and putting them in Rx bottles , IS this legal for a NON pharmacist to dispense medicine , Let me know. The Wal-Mart on W. Waters ave Tampa,FL
Answers:
4. Answer What an interesting thread! I thought Pharmacy Technicians only received negative commentary in my part of the country! Now I see it's nationwide disrespect!!
Depending on State's pharmacy boards, pharmacy technicians must be registered [also referred to as 'licensed'], and can never counsel patients. In fact, some are nationally certified and must complete continuing education in order to maintain this national certification, and in some settings, to work at their specific pharmaceutical entity.
Papu, if you know of anyone who's been hospitalized and receive intravenous medicines, the chances are more than not likely that a pharmacy technician in an inpatient pharmacy setting] prepared the mixed IV solution.
Exactly how is the pharmacist supposed to count out pills, order stock, talk to the medicine governing entities, answer phones, receive prescriptions, take inventory, etc., etc., by her/himself WITHOUT aide from people licensed and qualified to work in a pharmacy setting?
3.Answers
Pharmacy techs are there to augment the duties of the pharmacist. I used to type in the scripts, count pills, make ointments, creams, some solutions, in addition to stocking the pharmacy, filing, etc. I haven't worked in a pharmacy in over 12 years, but I still deal with pharmacy matters as call center employee for the grocery chain I work for.
About the only thing I could not do, is give counseling which are the duties of the pharmacist.
2.AnswerNever noticed. I drop my prescription off & pick it up later. As long as it's the right medication & the right number of pills, doesn't bother me.
1. Answer
I can't speak for all Walmarts, but the one in our city only uses licensed professionals to dispense controlled or prescription meds.
Answers:
4. Answer What an interesting thread! I thought Pharmacy Technicians only received negative commentary in my part of the country! Now I see it's nationwide disrespect!!
Depending on State's pharmacy boards, pharmacy technicians must be registered [also referred to as 'licensed'], and can never counsel patients. In fact, some are nationally certified and must complete continuing education in order to maintain this national certification, and in some settings, to work at their specific pharmaceutical entity.
Papu, if you know of anyone who's been hospitalized and receive intravenous medicines, the chances are more than not likely that a pharmacy technician in an inpatient pharmacy setting] prepared the mixed IV solution.
Exactly how is the pharmacist supposed to count out pills, order stock, talk to the medicine governing entities, answer phones, receive prescriptions, take inventory, etc., etc., by her/himself WITHOUT aide from people licensed and qualified to work in a pharmacy setting?
3.Answers
Pharmacy techs are there to augment the duties of the pharmacist. I used to type in the scripts, count pills, make ointments, creams, some solutions, in addition to stocking the pharmacy, filing, etc. I haven't worked in a pharmacy in over 12 years, but I still deal with pharmacy matters as call center employee for the grocery chain I work for.
About the only thing I could not do, is give counseling which are the duties of the pharmacist.
2.AnswerNever noticed. I drop my prescription off & pick it up later. As long as it's the right medication & the right number of pills, doesn't bother me.
1. Answer
I can't speak for all Walmarts, but the one in our city only uses licensed professionals to dispense controlled or prescription meds.
Relatives of NY worker killed in Black Friday shoppers
Relatives of NY worker killed in Black Friday shoppers' stampede sue Wal-Mart, other companies.
The family of a worker trampled to death in a "Black Friday" crush of bargain hunters at a Long Island Wal-Mart store filed a wrongful-death lawsuit on Wednesday, claiming store ads offering deep discounts "created an atmosphere of competition and anxiety" that led to "crowd craze."
The lawsuit claims that besides failing to provide adequate security for a pre-dawn crowd estimated at 2,000, Wal-Mart "engaged in specific marketing and advertising techniques to specifically attract a large crowd and create an environment of frenzy and mayhem and was otherwise careless, reckless and negligent."
Wal-Mart issued a statement saying it would cooperate with local law enforcement officials to develop stronger safety measures for the future.
"We consider Mr. Damour part of the Wal-Mart family, and are saddened by his death," the statement said. "We have been in communication with members of his family to do what we can to help them through this difficult time. Our associates know that when incidents like this occur, we take care of our own."
In addition to the retailer, the adjacent Green Acres Mall, a realty company that manages the property and a security company hired to patrol the property were all named as defendants. A spokeswoman for the realty company declined to comment on pending litigation; none of the other defendants immediately responded to phone and e-mail inquiries seeking comment on the lawsuit.
Jdimytai Damour, 34, had been hired by an employment agency as a temporary worker at the Wal-Mart store in Valley Stream and had been on the job about a week when he died, said his family's lawyer, Jordan Hecht.
The 6-foot-5, 270-pound man died of asphyxiation after being crushed early Friday morning by the crowd, which broke down the electronic doors in frantic pursuit of bargains. At least four other people were treated at hospitals, including a woman who was eight months pregnant.
Authorities suspect that because he was as big as an NFL lineman, Damour was placed at the entrance of the store to assist with crowd control.
"Those hundreds of people who did make their way into the store, literally had to step over or around him or unfortunately on him to get into the Wal-Mart store," Nassau County Police Commissioner Lawrence Mulvey said this week.
Police are reviewing store video to identify possible suspects in Damour's death, but Mulvey conceded that criminal charges are unlikely.
Mulvey said it was apparent to him that the Wal-Mart store about 20 miles east of Manhattan lacked adequate security to handle the crowds. He said police representatives met with retailers throughout the county two weeks before Thanksgiving and made it clear that security and crowd control for the sales were the merchants' responsibilities.
Hecht said Damour's family also plans to file lawsuits against Nassau County and its police department.
County Attorney Lorna Goodman said, "The county has no liability in situations of this kind."
The lawsuit against Wal-Mart and the other companies was filed Wednesday in state Supreme Court in the Bronx, the home of one of the victim's sisters, Elsie Damour Phillipe, the court-appointed administrator of his estate. It does not seek specific damages.
Shoppers around the country line up early outside stores on the day after Thanksgiving in the annual bargain-hunting ritual known as Black Friday. It got that name because it historically has been the day stores broke into profitability for the full year.
The National Retail Federation believes Damour is the first store worker to die on the job in the post-Thanksgiving rush.
The family of a worker trampled to death in a "Black Friday" crush of bargain hunters at a Long Island Wal-Mart store filed a wrongful-death lawsuit on Wednesday, claiming store ads offering deep discounts "created an atmosphere of competition and anxiety" that led to "crowd craze."
The lawsuit claims that besides failing to provide adequate security for a pre-dawn crowd estimated at 2,000, Wal-Mart "engaged in specific marketing and advertising techniques to specifically attract a large crowd and create an environment of frenzy and mayhem and was otherwise careless, reckless and negligent."
Wal-Mart issued a statement saying it would cooperate with local law enforcement officials to develop stronger safety measures for the future.
"We consider Mr. Damour part of the Wal-Mart family, and are saddened by his death," the statement said. "We have been in communication with members of his family to do what we can to help them through this difficult time. Our associates know that when incidents like this occur, we take care of our own."
In addition to the retailer, the adjacent Green Acres Mall, a realty company that manages the property and a security company hired to patrol the property were all named as defendants. A spokeswoman for the realty company declined to comment on pending litigation; none of the other defendants immediately responded to phone and e-mail inquiries seeking comment on the lawsuit.
Jdimytai Damour, 34, had been hired by an employment agency as a temporary worker at the Wal-Mart store in Valley Stream and had been on the job about a week when he died, said his family's lawyer, Jordan Hecht.
The 6-foot-5, 270-pound man died of asphyxiation after being crushed early Friday morning by the crowd, which broke down the electronic doors in frantic pursuit of bargains. At least four other people were treated at hospitals, including a woman who was eight months pregnant.
Authorities suspect that because he was as big as an NFL lineman, Damour was placed at the entrance of the store to assist with crowd control.
"Those hundreds of people who did make their way into the store, literally had to step over or around him or unfortunately on him to get into the Wal-Mart store," Nassau County Police Commissioner Lawrence Mulvey said this week.
Police are reviewing store video to identify possible suspects in Damour's death, but Mulvey conceded that criminal charges are unlikely.
Mulvey said it was apparent to him that the Wal-Mart store about 20 miles east of Manhattan lacked adequate security to handle the crowds. He said police representatives met with retailers throughout the county two weeks before Thanksgiving and made it clear that security and crowd control for the sales were the merchants' responsibilities.
Hecht said Damour's family also plans to file lawsuits against Nassau County and its police department.
County Attorney Lorna Goodman said, "The county has no liability in situations of this kind."
The lawsuit against Wal-Mart and the other companies was filed Wednesday in state Supreme Court in the Bronx, the home of one of the victim's sisters, Elsie Damour Phillipe, the court-appointed administrator of his estate. It does not seek specific damages.
Shoppers around the country line up early outside stores on the day after Thanksgiving in the annual bargain-hunting ritual known as Black Friday. It got that name because it historically has been the day stores broke into profitability for the full year.
The National Retail Federation believes Damour is the first store worker to die on the job in the post-Thanksgiving rush.
Wal-Mart will pay pay $54.25M to settle Minn. lawsuit
Any message Wal-Mart's big price tag — a proposed $54 million settlement of a 7-year-old Minnesota employee lawsuit — sends to other employers may be muted.
The settlement, announced Tuesday, ends one of many lawsuits around the country charging that for years Wal-Mart cut corners on meal and rest breaks for its store employees.
For some employers operating in an economy of crisis, the risk of paying millions in back wages and penalties down the road pales in comparison to the immediate need to slash costs.
"I do not think it will have a huge impact," said David Allen Larson, an employment and labor law professor at Hamline University School of Law. "It will nevertheless remind employers that there is the possibility that they could be sanctioned for wage-and-hour violations."
And while Wal-Mart agreed to maintain electronic systems, surveys and notices to comply with wage-and-hour policies and Minnesota laws, it's unlikely other employers will take it as a sign to be vigilant and make sure their practices are in line.
While some employers learning of eye-popping multimillion-dollar settlements may be prompted to at least re-examine their practices, that may be where it ends.
"There are millions of employers," Larson said after the Wal-Mart settlement was announced. "There are not millions of wage-and-hour inspectors. An employer may say that even though they got Wal-Mart, they're never going to come down and get little me.
A Dakota County judge ruled in July that Wal-Mart violated state wage-and-hour laws 2 million times by not giving employees of Wal-Mart and Sam's Club stores in Minnesota rest or meal breaks in many instances. Tuesday's settlement allows the Bentonville, Ark.-based retailer to avoid a jury verdict on damages; it was facing potential damages of more than $2 billion. A judge on Jan. 14 will consider whether to approve the settlement. Wal-Mart spokesman David Tovar said the company's policies are to pay its workers for every hour and to make meal and rest breaks available. Managers who violate its policies are subject to discipline, including firing, he said. Part of the settlement will go to the state of Minnesota, but that figure was not disclosed. About 100,000 current and former employees who worked for the retailer from September 1998 through Nov. 14 this year are eligible to receive some amount of the settlement, but the amount given to each will vary. Wage-and-hour lawsuits have become a hot area of employment law. One reason is because of the recent large class-action settlements. Wal-Mart, with 1.5 million U.S. workers, has faced several such lawsuits across the country. It was hit with a $188 million judgment in a similar case in Pennsylvania several years ago and a $172 million verdict in 2005 in California. Wal-Mart is appealing both cases. There also is ambiguity about who is eligible for overtime. The U.S. Labor Department issued new overtime regulations in 2004, while Minnesota kept its regulations the same, adding to the confusion. Courts have interpreted the state law on required meal breaks different ways. And state wage-and-hour laws and federal law also differ, leaving employers to figure out which law applies. Some employers may be in compliance with state law, but not federal, or vice versa. "Oftentimes, employers make mistakes with paying employees or following the law," said Penny Phillips, an attorney with Felhaber Larson who advises employers. "If you do not know what the law is, it's easy to break the law. Some employers break it intentionally and some unintentionally." The wage-and-hour division of the Labor Department wrapped up 30,467 investigations in 2007, recovering a record $220 million in back wages for more than 341,000 employees. The back wages collected in 2007 represent a 67 percent increase over back wages collected in 2001, and the number of workers receiving back wages increased 58 percent since 2001, according to the department. Wage-and-hour cases run the gamut — from not recording an employee's full pay, failing to pay proper overtime, misclassifying positions to inappropriately exempt employees from overtime pay, not clocking in employees correctly and shorting meal breaks. In the current economic environment, employers may be more willing to take the risk of getting caught breaking the law. "The reality is that the enforcement is so spotty on these cases," said Susan Stabile, a University of St. Thomas law professor specializing in employee benefits. "They are willing to take the risk that they are not going to get nailed — and if they get nailed, they pay." Wal-Mart's high-profile settlements reach back years, with little impact, she agreed.
Tuesday, December 9, 2008
Tesco could have a Wal-Mart
A third of revenue grocery retailer in the world, British Tesco (planned for 2007 turnover of more than $ 103 billion) for the first time declared that could open their shops in Russia.
On the Russian market already Promises two leaders of world retailers: French Carrefour opens first hypermarket in Moscow in 2008, a U.S. Wal-Mart can buy the local network.
Yesterday, CEO of British retailer Tesco, Terry Leahy said in an interview with The Times of intent to expand Tesco on the international market. According to him, as a new market for Tesco sees India and "does not preclude the entry into the Russian market." At the headquarters of Tesco yesterday could not provide more details on the timing and exit strategy in Russia.
According to Mr Leahy, quoted The Times, in the next ten years, Tesco plans to double the share of revenue from overseas operations, which now stands at 27%. Sales abroad this year should exceed $ 26.8 billion with annual revenues $ 103.3 billion, Tesco now operates in 13 countries, including Thailand and China.
Tesco - the largest retail network in the UK and third largest in the world (after the American Wal-Mart and French Carrefour). Founded in 1919. It brings together more than 3 thousand shops in 13 countries around the world.
Two of the world's largest retailer - Carrefour and Wal-Mart has already announced intention to enter in Russia market. Opening the first Carrefour is expected as early as 2008: hypermarket area of about 12 thousand square kilometers to open in Moscow Shopping Mall Fili (see 'dated 14 May 2007). Wal-Mart has not yet disclosed the timing of Russian project. In February this year, two vice-presidents from Wal-Mart, Mike Bratcher and Juan Figeyro at a conference in Russia said that the network expansion will begin only in partnership with a local player. In February, top manager X5 Retail Group told that the company is discussing the possibility of cooperating with Wal-Mart, Carrefour and Tesco, and did not rule out that one of the three retailer will acquire additional issue X5 (minority package).
Leaders of retail World are attracted by frenzied growth of the Russian retail market and its weak consolidation, analysts believe. Every year the local food retail will grow at least 16% until 2010, said the report "Russian retail chains, to buy time," MDM Bank. In the X5 projected market growth at 14% per an in the years 2007-2011. It is estimated X5, the entire retail grocery market in Russia, including the underground is estimated at $ 233 billion in 2006, of which only 15% are modern formats.
The proportion of the five largest networks in general circulation product market consists - only 5%. For comparison, in Britain's five leading players took 57.5% of the market, in Germany - 69.6%, Sweden - 87,4%. According to analyst Renaissance Capital Zagvozdinoy Natali, a foreign retailer still no need to buy local network: "As long as the share of Russia's largest player reaches 5% of the market can be developed, not using the tools of M & A". It is projected that the proportion of X5 will grow up to 5% no earlier than 2010.
On the Russian market already Promises two leaders of world retailers: French Carrefour opens first hypermarket in Moscow in 2008, a U.S. Wal-Mart can buy the local network.
Yesterday, CEO of British retailer Tesco, Terry Leahy said in an interview with The Times of intent to expand Tesco on the international market. According to him, as a new market for Tesco sees India and "does not preclude the entry into the Russian market." At the headquarters of Tesco yesterday could not provide more details on the timing and exit strategy in Russia.
According to Mr Leahy, quoted The Times, in the next ten years, Tesco plans to double the share of revenue from overseas operations, which now stands at 27%. Sales abroad this year should exceed $ 26.8 billion with annual revenues $ 103.3 billion, Tesco now operates in 13 countries, including Thailand and China.
Tesco - the largest retail network in the UK and third largest in the world (after the American Wal-Mart and French Carrefour). Founded in 1919. It brings together more than 3 thousand shops in 13 countries around the world.
Two of the world's largest retailer - Carrefour and Wal-Mart has already announced intention to enter in Russia market. Opening the first Carrefour is expected as early as 2008: hypermarket area of about 12 thousand square kilometers to open in Moscow Shopping Mall Fili (see 'dated 14 May 2007). Wal-Mart has not yet disclosed the timing of Russian project. In February this year, two vice-presidents from Wal-Mart, Mike Bratcher and Juan Figeyro at a conference in Russia said that the network expansion will begin only in partnership with a local player. In February, top manager X5 Retail Group told that the company is discussing the possibility of cooperating with Wal-Mart, Carrefour and Tesco, and did not rule out that one of the three retailer will acquire additional issue X5 (minority package).
Leaders of retail World are attracted by frenzied growth of the Russian retail market and its weak consolidation, analysts believe. Every year the local food retail will grow at least 16% until 2010, said the report "Russian retail chains, to buy time," MDM Bank. In the X5 projected market growth at 14% per an in the years 2007-2011. It is estimated X5, the entire retail grocery market in Russia, including the underground is estimated at $ 233 billion in 2006, of which only 15% are modern formats.
The proportion of the five largest networks in general circulation product market consists - only 5%. For comparison, in Britain's five leading players took 57.5% of the market, in Germany - 69.6%, Sweden - 87,4%. According to analyst Renaissance Capital Zagvozdinoy Natali, a foreign retailer still no need to buy local network: "As long as the share of Russia's largest player reaches 5% of the market can be developed, not using the tools of M & A". It is projected that the proportion of X5 will grow up to 5% no earlier than 2010.
Earnings of Wal-Mart Stores Inc, grow up to $ 2.86 billion
Earnings retailer Wal-Mart Stores Inc rose in the third quarter of 2007-2008 financial year thanks to good sales of units, tighter control of costs and efforts to attract customers early in American supermarkets in anticipation of the festive season.
Net profit of the world's largest retailer rose to $ 2.86 billion, or 70 cents per share, in the third quarter of 2007-2008 fiscal year, ended October 31, with $ 2.65 billion, or 63 cents per share, for the same period last fiscal year . Company sales increased by 8.8 per cent to $ 90.9 billion
Net profit of the world's largest retailer rose to $ 2.86 billion, or 70 cents per share, in the third quarter of 2007-2008 fiscal year, ended October 31, with $ 2.65 billion, or 63 cents per share, for the same period last fiscal year . Company sales increased by 8.8 per cent to $ 90.9 billion
Wal-Mart officially began Christmas Season
In the U.S., Wal-Mart officially launched the Christmas season, "providing its clients with a valuable opportunity to save on gifts." According to Wal-Mart, shoppers should not wait until the end of the day Thanksgiving (the last Thursday of November) to start large purchases.
Wal-Mart offered prices for "black Friday" (the last Friday of November) for three weeks earlier, when issued urgent message: an extraordinary low prices for five of the most popular gifts this season. Realizing that a growing number of consumers using the Internet to compare prices in stores, Wal-Mart's online sample showed obvious savings on Thursday November 1.
Goods will be available in stores, starting in the morning on Friday, November 2, since the day the company officially opens special Christmas shops. "Our customers can meet all their holiday needs at Wal-Mart and not only save money but also to buy gifts, which they can donate proud" said John Fleming, head of Merchandising Wal-Mart USA.
Customers can sign up to receive information via email or SMS, or go to the site of Wal-Mart November 1, to be the first to learn of the secret list of goods and daunting low cost to them. Savings on goods that are most in demand to buy as a gift - the central theme of a marketing campaign "Christmas Wal-Mart". Advertising in newspapers and on radio "explain" to customers that shopping at Wal-Mart: "The more you save, the more Christmas you can donate" ( "The more you save, the more Christmas you can give").
Wal-Mart offered prices for "black Friday" (the last Friday of November) for three weeks earlier, when issued urgent message: an extraordinary low prices for five of the most popular gifts this season. Realizing that a growing number of consumers using the Internet to compare prices in stores, Wal-Mart's online sample showed obvious savings on Thursday November 1.
Goods will be available in stores, starting in the morning on Friday, November 2, since the day the company officially opens special Christmas shops. "Our customers can meet all their holiday needs at Wal-Mart and not only save money but also to buy gifts, which they can donate proud" said John Fleming, head of Merchandising Wal-Mart USA.
Customers can sign up to receive information via email or SMS, or go to the site of Wal-Mart November 1, to be the first to learn of the secret list of goods and daunting low cost to them. Savings on goods that are most in demand to buy as a gift - the central theme of a marketing campaign "Christmas Wal-Mart". Advertising in newspapers and on radio "explain" to customers that shopping at Wal-Mart: "The more you save, the more Christmas you can donate" ( "The more you save, the more Christmas you can give").
Wal-Mart almost came to Russia
The largest network of retailers Wal-Mart goes to the Russian market. Analysts believe that Russia Wal-Mart will not apear before 2009: it arrived late for a separate release, but to buy Russian retailer still early. In addition, the authorities are forcing vendors to freeze prices.
About Wal-Mart outlet in the Russian retail market for the company said CEO Lee Scott. However, he did not name the specific timing of the work in Russia and not reported as the world's largest network of retailers will win the rapidly growing Russian market.
Wal-Mart plans to absorb the Russian market became known after reporting companies for the third quarter of 2007. Lee Scott noted that the U.S. retail market becomes saturated and its growth has slowed markedly.
Already in 2006, overseas offices Wal-Mart ahead of indicators offices in the United States. In 2006, 22% of total sales ($ 345 billion) went to foreign affiliates.
Out in Russia in line with the global strategy for the company. Wal-Mart plans to continue to invest heavily in the development retail in other countries. On the development of new markets, the company will require additional spending. Already this year, Wal-Mart will increase to $ 1 billion cost of international business: they amount to $ 4.5 billion compared with $ 3.5 billion in 2006. The following year, retailer will raise investment to $ 4.8 - $ 5.3 billion, and in 2009, spends from $ 5.3 billion to $ 5.8 billion in overseas expansion.
Now Wal-Mart is already present in 14 countries, including the United States (Argentina, Brazil, Honduras, Mexico, Canada, China, Costa Rico, El Salvador, Guatemala, Nicaragua, Puerto Rico, Japan and Britain). In August 2007, the company reported that it had agreed with India's Bharti Enterprises to establish a joint venture between Bharti Wal-Mart Private Ltd. The first store network Wal-Mart will open in India in 2008.
As experts note, Wal-Mart is going to go long on the Russian market, and this is cause for some scepticism.
While the world's largest retailer talks about his plans, his competitors operate much more.
"For example, Carrefour, - talks analyst" Antanta-Capital Andrew Verholantsev - plans to open its first hypermarket in the first quarter of 2008 in the west of Moscow.
In general, if Wal-Mart finally released to the Russian market, it could be profitable. "The Russian market is saturated and not enough on its own tanks could take another player," - said Verholantsev. Business will be successful if the company will choose the right region, said the analyst: "For example, Down Novgorod, Samara, Novosibirsk, in general, the city-million".
These regions have not yet been saturated, while the share of organized trade is 20%, and the remaining 80% - this market and tents.
But wait, that the world's largest retail network in Russia will soon not be. For appearance in Russia of foreign retailer is not a good time. "Essentially went commercial real estate niche online retailers already are Russian companies," - said analyst URALSIB "Andrei Nikitin. Thus, Wal-Mart missed with a separate output in Russia.
Start same activities through the purchase of Russian retailer too soon, said Nikitin: "The market is fragmented, and there is no obvious leader." "Even when buying X5 Retail Group, one of Russia's largest market players, Wal-Mart does not provide a decent market share - in the X5 accounting for only about 2% of retailers", - said Nikitin. Therefore, most likely, the American retailer wait until 2009, when possible, identify the leader, and then Wal-Mart buys it suggests analyst.
The Russian company's network may reach a substantial percentage of retail sales, but only in the very distant future. Overall, the proportion of netter in retail trade is unlikely to grow dramatically in the near future. "To expect change in the situation the next 10 years is not worth" - confirms Andrew Verholantsev.
Nevertheless, over time, Russian retailers could face displacement by the major networks.
In this connection, you can remember that, in addition to the scope of its activities, Wal-Mart is known around the world, and even as an object of attack for public organizations: in particular, WakeUp Wal-Mart and Wal-Mart Watch accused the world's largest retailer that it displaces more Small vendors from the market and to oppose unions. According to analyst URALSIB "Andrei Nikitin, the same situation again, and Russia -" they replace small retailer from the market. " It added that in Russia there is currently no similar public organizations, which could support the smaller retailer.
But the largest retailer may face yet another challenge. As previously wrote "Gazeta.Ru", the authorities have recently forced the major players of the food market to freeze prices of socially significant products. Most likely, this pressure on sellers and manufacturers will continue until the presidential elections since the signing of various agreements freezing the price is good political advertising. Therefore, while Wal-Mart really worth waiting.
About Wal-Mart outlet in the Russian retail market for the company said CEO Lee Scott. However, he did not name the specific timing of the work in Russia and not reported as the world's largest network of retailers will win the rapidly growing Russian market.
Wal-Mart plans to absorb the Russian market became known after reporting companies for the third quarter of 2007. Lee Scott noted that the U.S. retail market becomes saturated and its growth has slowed markedly.
Already in 2006, overseas offices Wal-Mart ahead of indicators offices in the United States. In 2006, 22% of total sales ($ 345 billion) went to foreign affiliates.
Out in Russia in line with the global strategy for the company. Wal-Mart plans to continue to invest heavily in the development retail in other countries. On the development of new markets, the company will require additional spending. Already this year, Wal-Mart will increase to $ 1 billion cost of international business: they amount to $ 4.5 billion compared with $ 3.5 billion in 2006. The following year, retailer will raise investment to $ 4.8 - $ 5.3 billion, and in 2009, spends from $ 5.3 billion to $ 5.8 billion in overseas expansion.
Now Wal-Mart is already present in 14 countries, including the United States (Argentina, Brazil, Honduras, Mexico, Canada, China, Costa Rico, El Salvador, Guatemala, Nicaragua, Puerto Rico, Japan and Britain). In August 2007, the company reported that it had agreed with India's Bharti Enterprises to establish a joint venture between Bharti Wal-Mart Private Ltd. The first store network Wal-Mart will open in India in 2008.
As experts note, Wal-Mart is going to go long on the Russian market, and this is cause for some scepticism.
While the world's largest retailer talks about his plans, his competitors operate much more.
"For example, Carrefour, - talks analyst" Antanta-Capital Andrew Verholantsev - plans to open its first hypermarket in the first quarter of 2008 in the west of Moscow.
In general, if Wal-Mart finally released to the Russian market, it could be profitable. "The Russian market is saturated and not enough on its own tanks could take another player," - said Verholantsev. Business will be successful if the company will choose the right region, said the analyst: "For example, Down Novgorod, Samara, Novosibirsk, in general, the city-million".
These regions have not yet been saturated, while the share of organized trade is 20%, and the remaining 80% - this market and tents.
But wait, that the world's largest retail network in Russia will soon not be. For appearance in Russia of foreign retailer is not a good time. "Essentially went commercial real estate niche online retailers already are Russian companies," - said analyst URALSIB "Andrei Nikitin. Thus, Wal-Mart missed with a separate output in Russia.
Start same activities through the purchase of Russian retailer too soon, said Nikitin: "The market is fragmented, and there is no obvious leader." "Even when buying X5 Retail Group, one of Russia's largest market players, Wal-Mart does not provide a decent market share - in the X5 accounting for only about 2% of retailers", - said Nikitin. Therefore, most likely, the American retailer wait until 2009, when possible, identify the leader, and then Wal-Mart buys it suggests analyst.
The Russian company's network may reach a substantial percentage of retail sales, but only in the very distant future. Overall, the proportion of netter in retail trade is unlikely to grow dramatically in the near future. "To expect change in the situation the next 10 years is not worth" - confirms Andrew Verholantsev.
Nevertheless, over time, Russian retailers could face displacement by the major networks.
In this connection, you can remember that, in addition to the scope of its activities, Wal-Mart is known around the world, and even as an object of attack for public organizations: in particular, WakeUp Wal-Mart and Wal-Mart Watch accused the world's largest retailer that it displaces more Small vendors from the market and to oppose unions. According to analyst URALSIB "Andrei Nikitin, the same situation again, and Russia -" they replace small retailer from the market. " It added that in Russia there is currently no similar public organizations, which could support the smaller retailer.
But the largest retailer may face yet another challenge. As previously wrote "Gazeta.Ru", the authorities have recently forced the major players of the food market to freeze prices of socially significant products. Most likely, this pressure on sellers and manufacturers will continue until the presidential elections since the signing of various agreements freezing the price is good political advertising. Therefore, while Wal-Mart really worth waiting.
Friday, December 5, 2008
Wal-Mart will buy Japan's Seiyu
Wal-Mart Stores is going to fully redeem the Japanese network Seiyu. This network will be required to spend up to $ 872.6 million Wal-Mart, which is now owned 50,9% stake in the Japanese network, will pay $ 1.22 per share.
The challenge, at least Wal-Mart - to gain control over two-thirds of ordinary shares in the company. If the tender will be successful, the company will redeem all outstanding shares in order to bring Seiyu from the Tokyo Stock Exchange listing. The proposal to purchase shares done with the permission of the Board of Directors of Seiyu.
Since coming to the Japanese market in 2002, Wal-Mart to increase gradually in Seiyu, which owns 400 stores across the country. Wal-Mart decided not to change the brand online, a close Japanese on their own. In addition to Seiyu, Wal-Mart is actively investing and other Japanese assets. It has established distribution network here, has established its own computer systems, redesign shops and supermarkets built, until it has been rare.
But Seiyu still have to compete with smaller retail networks, and with local companies that offer great shopping format Wal-Mart.
In the past five years, Seiyu recorded losses. At the most profitable Wal-Mart this year negatively impacted falling consumer demand not only in North America and abroad.
The challenge, at least Wal-Mart - to gain control over two-thirds of ordinary shares in the company. If the tender will be successful, the company will redeem all outstanding shares in order to bring Seiyu from the Tokyo Stock Exchange listing. The proposal to purchase shares done with the permission of the Board of Directors of Seiyu.
Since coming to the Japanese market in 2002, Wal-Mart to increase gradually in Seiyu, which owns 400 stores across the country. Wal-Mart decided not to change the brand online, a close Japanese on their own. In addition to Seiyu, Wal-Mart is actively investing and other Japanese assets. It has established distribution network here, has established its own computer systems, redesign shops and supermarkets built, until it has been rare.
But Seiyu still have to compete with smaller retail networks, and with local companies that offer great shopping format Wal-Mart.
In the past five years, Seiyu recorded losses. At the most profitable Wal-Mart this year negatively impacted falling consumer demand not only in North America and abroad.
Wal-Mart will bring a wealth people
Managers of Wal-Mart after a long dispute agreed a new advertising strategy. Its aim - to attract more affluent customers. The slogan "always low prices", existed for nearly two decades, will be replaced by "spend less - live better."
The second part slogan applies to the recently launched environmental campaign, Wal-Mart. The campaign is based on research consulting firm Global Insight, which had previously calculated that by reducing the price of Wal-Mart each American family in 2006 spent an average of $ 2,500 less.
The new television spot, removed by order of Wal-Mart, describes how a rich family saved during a trip to Florida, making the purchase through the site. The result is impressive - $ 2500.
Some economists have accused Wal-Mart that with the new campaign, the network is trying to reduce public interest in the obvious problems: the harm that it causes environmental, and the fight against smaller competitors.
Wal-Mart does not disclose the budget for the new campaign. But, according to the agency TNS Media Intelligence, in the first half of this year, retailer spent on various marketing shares of $ 162 million
The second part slogan applies to the recently launched environmental campaign, Wal-Mart. The campaign is based on research consulting firm Global Insight, which had previously calculated that by reducing the price of Wal-Mart each American family in 2006 spent an average of $ 2,500 less.
The new television spot, removed by order of Wal-Mart, describes how a rich family saved during a trip to Florida, making the purchase through the site. The result is impressive - $ 2500.
Some economists have accused Wal-Mart that with the new campaign, the network is trying to reduce public interest in the obvious problems: the harm that it causes environmental, and the fight against smaller competitors.
Wal-Mart does not disclose the budget for the new campaign. But, according to the agency TNS Media Intelligence, in the first half of this year, retailer spent on various marketing shares of $ 162 million
Indians protest against Wal-Mart in their market
In Mumbai (formerly Bombay), about 20 thousand people held a protest against the entry of India's major trading networks, reported the newspaper The Hindu.
Among the retail operators, causing discontent of local traders, hit supermarket chain Wal-Mart.
Farmers fear that the major networks monopolize the market and have established low prices for purchased products that can damage the development of small businesses.
In August, Wal-Mart Corporation has signed an agreement with the Indian group Bharti Enterprises to establish a network of shops in the format of cash & carry. The first store joint venture Bharti Wal-Mart Private, is in 2008. Prior to 2015, plans to open 10 to 15 outlets area of 4.6 thousand to 9.3 thousand square meters.
According to the portal RetailStudio.org, India's market is estimated at 350 billion dollars and this figure could increase by half by 2015. Only three percent of the market controlled by large network operators.
In July, a network of Wal-Mart was the first among companies with the largest revenues and profits in the list of Global 500 delivered by the magazine Fortune.
Wal-Mart's revenues for the year amounted to 351.1 billion dollars.
Among the retail operators, causing discontent of local traders, hit supermarket chain Wal-Mart.
Farmers fear that the major networks monopolize the market and have established low prices for purchased products that can damage the development of small businesses.
In August, Wal-Mart Corporation has signed an agreement with the Indian group Bharti Enterprises to establish a network of shops in the format of cash & carry. The first store joint venture Bharti Wal-Mart Private, is in 2008. Prior to 2015, plans to open 10 to 15 outlets area of 4.6 thousand to 9.3 thousand square meters.
According to the portal RetailStudio.org, India's market is estimated at 350 billion dollars and this figure could increase by half by 2015. Only three percent of the market controlled by large network operators.
In July, a network of Wal-Mart was the first among companies with the largest revenues and profits in the list of Global 500 delivered by the magazine Fortune.
Wal-Mart's revenues for the year amounted to 351.1 billion dollars.
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