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...Wal-Mart and Target have good credit--and no surety problems. While there is no indication that surety will tip another company into bankruptcy--as K Mart claims--their cost is rising and scarcity increasing...
...Wal-Mart, an e-commerce Johnny-come-lately that's now topping the charts, says it has concentrated its energies not on duplicating a Wal-Mart store online but on finding ways for Walmart.com to complement the stores. For example, when a customer drops off a roll of film to be developed at the store, he can have the photos posted on the site, then log on to create a Hallmark card with one and frame and ship another--services not offered off-line. Starting next summer, you'll be able to buy tires at Walmart.com...
...back too fast. Some shoppers love those ads, and when the flyers didn't arrive at customers' doors, customers didn't show up at K Mart's stores. At the same time, K Mart cut prices on 38,000 items. Consumers didn't catch on fast enough, but Wal-Mart sure did, and it fired back with a vengeance. "Look at what this CEO has done!" says analyst Hale. "He's tried to go up against Wal-Mart by lowering prices, and it just didn't work because you can never just fight Wal-Mart on price." Why not? Wal...
...each 1% increase in inventory this year, K Mart's cash flow will drop some $40 million. That's money the company needs to continue its program to remodel old stores and build new Super K supermarket-discount stores. If K Mart had been as efficient in selling as Wal-Mart, it could have earned $200 million in the third quarter instead of losing $224 million...
Meanwhile, Wal-Mart is looking for other markets to conquer. It would like to offer low-cost checking and savings accounts and other financial services in branches, managed by a division of Canada's Toronto Dominion Bank but staffed at least partly by Wal-Mart employees. Wal-Mart figures that perhaps 20% of its customers do not have bank accounts. It is trying to work its way around U.S. banking regulations that currently forbid entities such as retailers from running banks. That's where partner TD comes in. Who knows? Maybe K Mart will apply for a loan...