Tag Archives | Wal-Mart

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Carrefour CEO sees “challenging” times ahead

France’s Carrefour is the world’s 2nd largest retailer, with sales of €86bn ($117bn). Reporting 2009 results, CEO Lars Oloffson echoed Wal-Mart’s CEO Mike Duke, saying he saw “challenging” times ahead. And he added that “I don’t see any improvement in the short term in the economic environment. That means very clearly that we have to […]

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Wal-Mart’s US sales reduced by deflation

Wal-Mart, the world’s largest retailer with $400bn sales, saw deflation in its core US market last quarter. Prices were down minus 1.6%, even more than the -1% forecast. The cause was lack of confidence amongst shoppers, many of whom are now living “paycheck to paycheck”. The major retailers have an excellent record as forecasters of […]

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Top 10 posts in 2009

Blog readers have a wide range of interests. That is clear from the list below of the Top 10 posts in 2009. It also confirms the complexity of the chemical industry, and its fascination. In alphabetical order, it is as follows: • Bubble, bubble, toil and trouble • Companies remain cautious on the outlook • […]

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Wal-Mart sees global price deflation continuing

The blog regards Wal-Mart and other major retailers as excellent leading indicators of trends in the wider economy. It was therefore concerned to see CFO Tom Schoewe reporting today that Wal-Mart continues to “operate in a very challenging economy“, where the key driver is to provide “the lowest prices to our customers around the world.” […]

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Smart shoppers focus on needs, not wants

After destocking, and then restocking, what next? The blog is a great believer in following the insights of the major retailers, who have been consistently “on the money” in their analysis. Thus it takes very seriously the comments of Wal-Mart CEO, Mike Duke, who has joined the camp of those who believe we face a […]

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Operating earnings hide US economic downturn

Companies normally have 3 ways of pleasing investors: • Meet or better expectations for revenue and earnings • Cut costs to meet earnings if revenues disappoint • Focus attention on a more favourable earnings definition When things are going well, the first option is preferred. But under the pressure of a sustained economic downturn, it […]

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Procter & Gamble goes Basic

As the downturn began In July 2007, leading retailers Tesco and Wal-Mart “signalled a major shift in consumer priorities“. And Tesco added a warning that “If you don’t have the basic things right, you will be talking at the edge rather than at the centre“. 2 years later Procter & Gamble, one of the world’s […]

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China’s plastic bag ban cuts usage by 66%

A year ago today, China banned the issue of free plastic bags from supermarkets, shops and open markets. And it seems the ban has had considerable success. Supermarkets have used 66% fewer bags, according to government figures. The ban has saved 1.6m tons of oil, whilst also reducing pollution. Although street markets seem to have […]

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Wal-Mart warns of “contracting economy in China”

The Chinese government continues to express firm faith in its economy’s ability to withstand the global economic crisis. And certainly its recent imports of chemicals and polymers have been a lifeline for many companies outside the country. But now Wal-Mart, the world’s largest retailer, has reinforced the blog’s concerns about the economy. Wal-Mart reports that […]

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Consumers prioritise “needs” versus “wants”

The current recession is the blog’s fourth, after those of the mid-1970s, and early 1980′s and 1990′s. It is, however, already different from these, as it is the only one which has led to comparisons being made with the 1930′s Great Depression. As Harvard’s Prof Shiller has noted, “Depression fear did not take off” in […]

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