Word: marteli
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Bentonville could be an option; after all, the wealthiest person in the United States lives there and really does drive an old pick-up truck. And from the size of Fort Wal-Mart, the gargantuan office complex of the nation's largest discount retailer, I would guess that Sam Walton owns more office space in Arkansas than the state does. But chances are that Walton will not talk to tourists. Those who want to see a large office building can go to the Pentagon. It's closer to Harvard, and Colin Powell works there...
...Mart's relentless efforts have yielded remarkably rapid growth. Just 10 years ago, company sales of $2.4 billion were less than 12% of Sears'. But in the past three years, while Sears' North American retail sales (including those from 131 Canadian and Mexican stores) have grown only 14%, from $28 billion to $32 billion, Wal-Mart's have doubled, from $16 billion to $32.6 billion. Sears' overhead expenses still consume 29% of sales, and K mart's 23%, but Wal-Mart's burn up only 16% of sales. Wal-Mart workers are more productive than Sears': they generate an average...
Sears executives bristle at comparisons with Wal-Mart. Says a spokesman: "We compete with Wal-Mart on only 30% of the goods we sell." Maybe that's part of the problem. Critics say Sears management has lost touch with its customers and its mission. As a result, several retail expansions during the past few years have failed. Examples...
...contrast to Wal-Mart's high-stepping esprit de corps, a debilitating siege mentality and lackluster follow-through afflict Sears, according to employees and managers. No effort to revitalize Sears' competitiveness, they say, is likely to succeed until management communicates a clear vision for the company. Says a closely informed source who did not wish to be named: "Why are we always ending up with these losing propositions? We arrive at a strategy, but not everyone in the organization adheres to it. They hedge. There's a lack of buy-in, and you never come out with anything coherent...
BUSINESS: Wal-Mart deposes Sears...