Wal-Mart Stores Inc., the world’s largest retailer, reported stagnant same-store sales and cut its earnings forecast for the year, hurt by higher health-care costs and slow traffic at its supercenters.
Earnings for the year will now be US$4.90 to US$5.15 a share, down from a previous range of as much as US$5.45, the Bentonville, Arkansas-based company said today in a statement. Sales at U.S. Wal-Mart and Sam’s Club stores open at least 12 months were little changed last quarter, which ended Aug. 1.
Wal-Mart Stores Inc. illegally retaliated against protesting U.S. workers, the National Labor Relations Board said in a complaint stemming from job actions timed to the busy shopping day after the Thanksgiving holiday.
The labor board said yesterday that Wal-Mart, the world’s largest retailer, threatened, disciplined and fired employees who took part in strikes and protests at 34 stores in 14 states during the past two years.
We are not talking about a couple of empty shelves. This is throughout the store in every store. Some places look like they’re going out of business
Wal-Mart Stores Inc, already struggling to woo shoppers constrained by higher taxes, is “getting worse” at keeping shelves stocked, the retailer’s U.S. chief told executives, according to minutes of an officers’ meeting obtained by Bloomberg News.
D.C. is on the verge of passing a Living Wage" law mandating $12.50 an hour wages, but only for retailers with corporate sales of $1 billion or more. The response from the world's largest retailer is hardly unexpected.
Wal-Mart Threatens to Pull Out of D.C.