Word: walmarts
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...Walmart Stores Inc. achieved its biggest single-day sales figure ever, earning $1.43 billion in sales, compared to last year’s 1.25 billion. Macy’s and Bloomingdale’s, along with Dillard’s and Nordstrom, Inc. also reported exceeding their sales expectations...
...been somewhat of a rough week. Thursday?s sales announcements from retailers indicated a mass migration from Macy?s to WalMart (hence the slogan-borrowing above) as consumers showed signs of getting stingy with their money. And although productivity reclaimed its former glory Tuesday with a 2.5 percent hike after a contraction in the first quarter, that was mostly because producing companies got around to firing all the workers that were still manning halted production lines back in March...
Patrick Byrne, the site's founder and CEO, says his next project is to do his version of VCE: resell surplus tech hardware not only to consumers but also to mom-and-pop retailers for around 40% off the wholesale price. By comparison, mega-stores like WalMart usually get at most a 10% discount from jobbers or liquidation agents. Couple that with Overstock's tiny minimum wholesale order--six units--and it appears that Byrne is trying to play Robin Hood to America's 130,000 small retailers. "These guys are getting put out of business by WalMart because they...
Like VCE, Byrne has found a niche, as manufacturers routinely overproduce by 5% to 10%, a figure that naturally rises during a downturn. Nearly all his surplus items are produced in such small numbers that neither chain stores like WalMart nor catalogs will touch them. The only place such dribs and drabs can go is online...
...skating rink or the zoo. When a child begs for something--whether a $500 electric-powered baby Jaguar or a $7 bottle of lime-green nail polish--she's often just begging for a conversation with you. "Spoiling" is overindulgence combined with neglect, and kids can be spoiled at WalMart just as at FAO Schwartz...