Wal-Mart, whose U.S. stores have been dogged by lagging same-store sales for the past couple of years, tells analysts at a meeting in a Rogers today that those sales have now risen for three straight months:
The weak U.S. job market and other economic woes have hurt Wal-Mart’s business, straining its core low-income shoppers. But the world’s largest retailer has also stumbled because of mistakes it made in merchandising and pricing.
Wal-Mart since has restocked thousands of products it scrapped in an overzealous bid to clean up its stores. It also stopped using gimmicks like slashing prices temporarily on select item and instead returned to its “everyday low price” strategy, the bedrock philosophy of founder Sam Walton.
“Everyday low prices.” Funny how it keeps coming back to that one simple thing.
Wal-Mart Reserves Decline in U.S. Business [ArkansasBusiness.com]