Wal-Mart Stores Inc. - Success Strategies in Recessionary Environment![]() ![]() ![]() ![]() |
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"The business model that Sam Walton (company's founder) created is perfectly positioned for the environment we live in now. I do believe this is Wal-Mart's time." 1 - Michael Duke, President and CEO, Wal-Mart Stores Inc, in February 2009. "Business in general and a turnaround in particular all benefit from market timing. Nowhere is that more true than in Wal-Mart's case. The US economy turned down just as the company was picking up the pieces of its failed up-market strategy which included new fashion apparel, ethnic market segmentation, and centralization of store operations; most of which were either poorly executed or just plain wrong. The only thing that saved the company's bottom line from deteriorating further was the onset of the credit crisis in July 2007 and subsequent rise in oil prices as the dollar tumbled. Higher energy costs forced all retailers to increase product prices as a direct consequence of rising product costs and increased operating expenses. Simultaneously, consumers suffering acute sticker shock sought out the lowest common denominator to shop in order to balance family budgets. Wal-Mart was the obvious choice."2 - Nicholas White, President, White & Company3, a Custom Jewelry Retailer, in August 2008.
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1] "Wal-Mart Tops $400 Billion in Sales; 'This is Wal-Mart's Time,'
Says Mike Duke," www.indiaretailbiz.com, February 20, 2009.
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