Category: Wal Mart Stores

Wal-Mart Launches New Front in U.S. Price War

Wal-Mart Stores is running a new price-comparison test in at least 1,200 U.S. stores and squeezing packaged goods suppliers in a bid to close a pricing gap with German-based discount grocery chain Aldi and other U.S. rivals like Kroger Co, according to four sources familiar with the moves. Wal-Mart launched the price test across 11 Midwest and Southeastern states such as Iowa, Illinois and Florida, focusing on price competition in the grocery business that accounts for 56 percent of the company’s revenue, said vendor sources with direct knowledge of the matter who did not wish to be identified for fear of disrupting business relations with Wal-Mart.

Sears Says to Cut $1B in Costs, Shares Surge

Beleaguered retailer Sears Holdings Corp said on Friday it would cut costs by $1 billion and reduce debt and pension obligations by at least $1.5 billion this year, sending its shares soaring as much as 40 percent. The company also said it had sold five Sears full-line stores and two Auto Centers for $72.5 million in January, and had engaged Eastdil Secured to raise at least $1 billion from the sale of its real estate.

Wal-Mart dumps its version of Amazon Prime for new path

Wal-Mart is replacing a program that offered free shipping but had an annual fee with one that has a lower free shipping threshold and faster delivery as it hopes to answer Amazon’s powerful Prime membership success. The retailer says it will reduce shipping time to two days on 2 million of its most popular items including essentials like diapers and pet food as well as hot toys and electronics.

Wal-Mart Takes Latest Shot at Amazon

Wal-Mart Stores will offer U.S. shoppers free two-day shipping on a minimum order of $35 starting Tuesday, its latest attempt to compete with rival Amazon.com popular Prime shipping program. Free shipping will replace ‘Shipping Pass’, Wal-Mart’s existing two-day shipping program that charges shoppers an annual membership fee of $49.

Wal-Mart opts for free, faster shipping on necessities

Wal-Mart is replacing a program that offered free shipping but had an annual fee with one that has a lower free shipping threshold and faster delivery as it hopes to answer Amazon’s powerful Prime membership success. The retailer says it will reduce shipping time to two days on 2 million of its most popular essentials like diapers, pet food and cleaning supplies.

Judge rejects $80M penalty in Wal-Mart truck drivers lawsuit

A federal judge on Wednesday refused to force Wal-Mart to pay $80 million in penalties in a lawsuit alleging the retail giant failed to pay hundreds of truck drivers in California the minimum wage for certain tasks. Wal-Mart acted in good faith when paying the drivers and had reason to believe its payment policy aligned with California law, according to U.S. District Judge Susan Illston in San Francisco.

Walmart C-Suite Takes Another Hit as Uphill Battle with Amazon Rages On

Walmart Stores will reportedly promote several executives from its recently acquired Jet.com e-commerce business, as it continues a push to bolster its e-commerce offerings and compete with Amazon.com . According to an internal memo first obtained by Bloomberg, Walmart’s e-commerce CEO, Jet’s Marc Lore , announced that Jet’s chief revenue officer, Scott Hilton, will become the chief revenue officer for all of Walmart’s e-commerce operations.

Wal-Mart Names John Furner CEO Of Sam’s Club, Replacing Rosalind Brewer

Wal-Mart Stores Inc. said it has named John Furner as chief executive of its Sam’s Club unit, replacing Rosalind Brewer, who, is retiring effective Feb. 1. Furner is currently chief merchandising officer at Sam’s Club and has worked at the company since joining it as an hourly store assistant in 1993, the company said in a filing with the Securities and Exchange Commission.