Wal-Mart Stores Inc said it will expand its offering of discounted products during the holiday season and may broaden a price-matching scheme to include online rivals, in the latest sign of an escalating price war among big U.S. retailers.
wal-mart
Panasonic Corp plans to sell its Sanyo television unit in the U.S., which supplies sets to Wal-Mart Stores, to Funai Electric as it steps back from unprofitable businesses, the Nihon Keizai newspaper reported.
A resurgence in spending helped by an improving U.S. economy bolstered back to school season sales for retailers in September, but stagnant wages may force more discounting in the coming months, keeping pressure on margins.
Wal-Mart Stores Inc, the biggest U.S. private sector employer, said on Tuesday that its 1.3 million workers would have to pay more for healthcare and it would end benefits for some part-time staff in a move that could prompt other companies to follow suit.
U.S. retailer Dollar General Corp (DG.N) is preparing to go hostile as soon as this week in its bid to buy rival Family Dollar Stores (FDO.N), taking its $9.1 billion offer directly to shareholders after being spurned twice by its smaller rival, people familiar with the matter said on Tuesday.
Wal-Mart Stores Inc reported a 2.8 percent rise in quarterly sales, helped by higher sales at its smaller-format stores, but U.S. same-store sales failed to show growth again.
A report by Reuters said the financial crisis had shifted consumer spending habits in the UK from making bulk purchases in superstores to frequent small purchases in nearby small shops, prompting major grocers to change focus of their capital investment to the new consumer trend to attract potential investors.
Wal-Mart's online business had reduced the minimum amount of shopping orders online for Cyber Monday from USD50 to USD35, which is just about the same figure of minimum number of shopping orders at Amazon.
The world's largest retailer is likely to provide an update on its layaway program's results and on early indications of whether shoppers are taking to its first holiday specials. Wall Street is waiting to see whether Wal-Mart again cuts its fiscal year forecast.
Addressing concerns as to the lack of progress in its bid to open shop in India, Wal-Mart said it is negotiating with Bharti for final details.
Wal-Mart, together with other North American companies, banded together to create the Alliance for Bangladesh Worker Safety.
Wal-Mart Stores Inc signed a deal to import South African wine label Seven Sisters in an agreement that ended the legacy of apartheid.
Sources told Reuters that Wal-Mart Stores Inc is thinking of bidding ParknShop, the supermarket business owned by Li Ka-shing.
An class action suit on employee discrimination filed against Wal-Mart was dismissed by a federal court judge.
US major firms including Wal-Mart, Google, Morgan Stanley and Dell raised concerns regarding patent trolls and urged legislators to broaden US Patent and Trademark Office's scope of power in reviewing patents.
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