Wal-Mart Company Description

Walmart is the largest retailer of consumer staples products in the world. It was founded by Sam Walton in 1962, who started with the idea of a store that would offer its customers the lowest prices in the market. Walmart was incorporated in 1969 following the success of Walton’s ‘everyday low prices’ pricing strategy. It currently operates in 27 countries around the world. The company drives growth by expansion in its retail area and investments in e-commerce. Nonetheless, it has underperformed its competitor, Costco over the last few years due to the Costco’s better customer service record. Walmart has lost customers to Costco over the years, primarily because it doesn’t pay its employees well, which has led to demotivation in the workforce and poor customer service. Read More: WMT

Can Cisco and Wal-Mart Beat Earnings This Week?

Earnings season is in the process of winding down, but there are still some key earnings reports coming out. We are still getting key earnings and this week will bring the quarterly reports from Dow Jones Industrial Average components Cisco Systems Inc. (NASDAQ: CSCO) and Wal-Mart Stores Inc. (NYSE: WMT).

24/7 Wall St. wanted to offer previews for these two DJIA stocks. We also wanted to know if investors think they are worth their price based upon expectations and valuation.

Cisco Systems Inc. (NASDAQ: CSCO) reports earnings on Wednesday. At $23.51, its 52-week range is $16.69 to $26.49. Read more.

 

Wal-Mart’s Ex-Counsel Named CEO of Walton-Supported Vail Clinic

Wal-Mart Stores Inc.’s former general counsel has joined a sports-medicine clinic and foundation supported by a range of wealthy benefactors, including a member of the Walton family and a Wal-Mart director.

Last month, Tom Mars became chief executive officer of the Steadman Clinic and the Steadman Philippon Research Institute, according to a statement on the group’s website. The Colorado clinic, with offices in Vail, Frisco and Edwards, specializes in orthopedic medicine and says it has treated hundreds of Olympic and professional athletes.

Mars left Wal-Mart in March, about two months after two members of Congress released e-mails from 2005 in which he informed Mike Duke, now CEO, of allegations that executives in Mexico were corrupt. Last year, the U.S. Department of Justice and the U.S. Securities and Exchange Commission began investigating Wal-Mart for allegedly bribing Mexican officials to speed expansion efforts in that country. Wal-Mart has said it’s cooperating with the Justice and SEC inquiries. Read more.

More than 50 arrested at Los Angeles protest over Wal Mart wages

More than 50 people demanding better wages for Wal-Mart workers in a protest organized by a union activists were arrested outside the retailer's store in the Chinatown section of Los Angeles on Thursday night.

The protesters were taken into custody without incident after refusing an order by officers to disperse, and would be held overnight unless they posted $500 bail on online stock, said Detective Gus Villanueva, a Los Angeles Police Department spokesman.

Glen Arnodo, staff director of the Los Angeles County Federation of Labor, which organized the demonstration, said the intent was to draw attention to what he said was Wal-Mart's role in income inequality. Read more.

Wal-Mart website glitch gave shoppers super bargains

Shoppers looking for a bargain got some big ones, if only temporarily, at Walmart.com Wednesday morning.A technical glitch on the Wal-Mart Stores Inc U.S. website offered some items at a fraction of their actual retail price.

Treadmills, which normally cost hundreds of dollars, were priced at $33.16. LCD computer monitors were offered for $9.

"Given the wide discrepancy in pricing, we are notifying customers who ordered these items that their orders have been canceled and that they'll be refunded in full," Jariwala said in an e-mail. Walmart.com will also offer those shoppers a $10 gift card. Read more.

Walmart Neighborhood Market Brings Local Fresh Food Favorites

Walmart will open a new Walmart Neighborhood Market on Friday, Nov. 1, after a brief ribbon-cutting ceremony at 7:30 a.m. The new store, approximately one-quarter the size of a Walmart Supercenter, is located at Highway 164 and Coral Drive and is open from 6 a.m. to midnight, seven days a week. The new store will provide local customers with a new, convenient option for their grocery shopping needs, including fresh produce and pharmacy services.

"Walmart is a valuable community partner," said town chairman John Marek. "They have provided new jobs and support our local charities, which is so important to Waukesha."The Walmart Neighborhood Market format offers quick and convenient shopping, with a full grocery department, including organic and natural selections. The store features prepared food options, fresh-baked breads, self-serve deli and a bakery. The Waukesha store is also tailored to the community. Read more.