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June 09, 2005

Wal-Mart, Meet Prada

At Wal-Mart's annual meeting last week, CEO Lee Scott unveiled what may be a subtle shift toward making the store more "upscale" in some respects. The company is doing fine selling goods in massive quantities to lower- and middle-income shoppers who patronize Wal-Mart because, in Scott's words, they "have to save money." But these customers can get tapped out. Indeed, the retailer's same-store sales have been plodding along, increasing less than 3 percent per year.

To grow more rapidly, Scott said, Wal-Mart needs to attract customers with lots of discretionary income who shop where they want to. So Wal-Mart plans to appeal to them by improving the quality of its clothes and goods and by stocking more "organic and natural food."


Posted by Lawren at June 9, 2005 07:24 AM

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