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McDonald's (MCD) did so well with its dollar menu that Wal-Mart (WMT) decided it will create one, too. The difference is that the Wal-Mart version will be merchandise and not food. McDonald's philosophy of selling very inexpensive food in a clean, well-lit environment served by consistently friendly people has helped it expand its operations to 36,000 stores worldwide. Wal-Mart's approach to retail stores is not terribly different. It may not be entirely coincidental that Wal-Mart was started in 1962 and McDonald's began in 1955. Millions of relatively young people, most...
...Earlier this week, Wal-Mart, the world's largest retailer, said that it planned to improve its second quarter sales by offering shoppers irresistible bargains. For the last quarter, Wal-Mart reported flat earnings of $.77 and said it expected to deliver a range of $.83 to $.88 in the current period. Same-store sales for this quarter are expected to be between flat and up 3%. Wal-Mart may have an uphill fight to post strong second quarter earnings. Recent employment numbers and shrinking access to credit will hurt retail sales, although Wal-Mart probably has its share...
...According to Reuters, "Treasurer Charles Holley said Wal-Mart has planned a number of merchandising initiatives to appeal to cash-strapped shoppers, including its dollar program." The theory behind the promotion is sound. Most stores could not bring in a lot of revenue selling items at $1 a piece, nor could most restaurants, but Wal-Mart and McDonald's have such significant scale and customer bases that getting an even slight increase in discretionary spending from tens of millions of people could make the difference between a mediocre quarter and a good...
...Skeptics have been predicting Cannes' demise for decades, ever since European and Asian cinema became the merest boutiques outside the juggernaut Wal-Mart that is Hollywood. American movies rule the box office in nearly every country they're allowed free access to, so who cares about art films? Acknowledging the challenge, Cannes' chief programmer Thierry Frémaux is savvy enough to pepper his slate with brand names and faces - folks who will get their pictures on TV, in magazines and on the Internet, and earn the festival free publicity around the globe. This year Cannes has star quality...
...unconscious. With Pygmy it was no happy or no conscious. I found myself saying no conscious a lot. You end up internalizing all that language and it lingers in your head and alters the way you think about things. It allows me to make very ordinary, everyday things like Wal-Mart and megachurches and high schools that much more fresh...