Wal-Mart: No Longer A Proxy For U.S. Economy
By Dana Blankenhorn: The talk show nuts all wanted to talk this morning about a report that over half the kids being born in the U.S. are non-white.But there's a different, somewhat unrelated, and more important story for y'all. WalMart (WMT) is no longer a proxy for the U.S. economy.The company's big earnings gain, to $3.7 billion in one quarter, was powered by results outside the U.S. Especially strong were Brazil, Britain and Mexico - the latter is where the company is presently suffering from a bribery scandal.I asked last month whether the scandal was material. It is, materially positive.Retailing may be the hardest nut to crack for a U.S. company. A product can be approved or stopped at a border, and that binary system can be fairly simple for executives to deal with. For retailing to work you need local infrastructure, not just stores but delivery systems. YouComplete Story »
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