Word: wal
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...spite of their new spending power, bargain-hunting consumers will continue to reshape the retailing industry by flocking to such discounters as Wal-Mart and Price Club at the expense of traditional department stores. That in turn will help restrain price increases even as the economy expands...
More important, the jobs being wiped out at giants like Kodak, McDonnell Douglas, IBM and General Motors are far better paid than the jobs opening up at companies still growing rapidly. Wal-Mart, the discount-store chain, created more jobs in the first 30 months of the recovery than any other company in the country, but they generally pay only about $5 to $9 an hour. PepsiCo is still expanding, but most of the new jobs are for those who feed the ovens at the company's Pizza Hut, Taco Bell and KFC fast-food restaurants. Result: many people...
...American companies with a foothold in Mexico's market of 88 million people have ambitious expansion plans there regardless of NAFTA's fate. Dallas-based Southland Corp. operates 180 7-Eleven stores with joint-venture partners in Mexico and will open 20 more by the end of the year. Wal-Mart opened a block- long supercenter in Mexico City in September, along with five Sam's Clubs warehouse stores. The Arkansas-based company is completing a second supercenter in Monterey, Mexico, this month, plus two more warehouse clubs. Rival K Mart will open its first Mexican store...
...backlash against Wal-Mart and other discount retailers...
Recent studies also weaken the argument that the large retailers hurt the economy of the communities. Kenneth Stone, an economics professor at Iowa State, conducted a study of Iowa towns with Wal-Marts and found that while the number of small retailers did decline, other business was attracted to the area. "Apparently Wal-Mart stores attracted customers into town from a greater radius than had occurred before their entry," Stone says...