The world 's largest retailer, which only a few years ago could do no wrong, is now suffering from the kind of problems that have plagued weaker rivals like Kmart: cluttered stores, merchandise that turned off shoppers, and poor service. Wal-Mart 's sale growth has sagged, in part because the Bentonville, Arkansas based retailer, while still a low-price leader, doesn 't have products on the floor that attract today 's shoppers.
Meanwhile, Target Corp., while some six times smaller than Wal-Mart, is setting a new standard for discount retailing. Target, however, keeps sharpening its appeal to a higher-income customer with affordable fashions and home merchandise from designers including Cynthia Rowley and Isaac Mizrahi. Its stores boast a colorful assortment of merchandise that focus on the must-haves of the season. The impact of the differing shopping experiences at Wal-Mart and Target was evident in financial results.
The world 's largest retailer faces new challenges at a time when low prices and one-stop shopping...
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...press, the smallest store format that it’s been piloting since 2011 to compete with dollar stores. More than 95 percent of the stores to be closed in the USA are near another Wal-Mart, including all the Wisconsin locations. The company said the stores it plans to close are generally poor performers, and most are within 10 miles of another Walmart. Financial performance is just one of many factors the company took into account when deciding which stores to close. Of the 16,000 associates or employees to be affected, 10,000 will be in the United States. The company aims to place those associates in nearby Walmart’s.
Wal-Mart main focus will be in the U.S. on supercenters, Neighborhood Markets, the e-commerce business and pickup services for shoppers. Wal-Mart ending goal will be to open almost 200 to 240 new stores in global markets during the coming years.
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