Wal-Mart to face scrutiny at annual meeting
Source: AP-Excite
BY ANNE D'INNOCENZIO
FAYETTEVILLE, Ark. (AP) Wal-Mart stakeholders should get a deeper insight into new CEO Doug McMillon's plans to shape the future of the world's largest retailer in an era of changing consumer habits, a tough global economy and intense scrutiny in how it does business overseas.
The annual Wal-Mart shareholder's meeting on Friday is expected to draw about 14,000 people, including its workers around the globe. McMillon took the helm at Wal-Mart Stores Inc. in February.
Revenue at established Wal-Mart stores in the U.S. has declined for five consecutive quarters. Meanwhile, the number of customers has fallen six quarters in a row at the division, which accounts for 60 percent of the company's total sales, which reached $473 billion last year.
Like many other retail chains that cater to working-class Americans, Wal-Mart is a victim of an uneven economic recovery that has benefited well-heeled shoppers more than those in the lower-income rungs. Moreover, shoppers are increasingly looking for lower prices at online rivals like Amazon.com and at small stores like dollar chains and pharmacies.
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Read more: http://apnews.excite.com/article/20140606/wal-mart-shareholders-a542c647d6.html
A Beats by Dr. Dre headphone display is shown at the Wal-Mart Supercenter in Rogers Ark., Thursday June 5, 2014. The annual Wal-Mart shareholder{2019}s meeting on Friday June 6, 2014 is expected to draw about 14,000 people, including its workers around the globe. (AP Photo/Sarah Bentham)
ChairmanAgnostic
(28,017 posts)TIME FOR MORE BONUSES FOR THE TOP BRASS!
Timez Squarez
(262 posts)Fuck it, I'm shutting down all our stores in all except Arkansas. Wal-Mart should stay local, and not invade other people's turf.
Then orders an immediate shutdown and and $100 million committed to rehabiltation and breakdown of the big box stores and return the land to the city.
Uben
(7,719 posts)Cheap shit Walmart stores are a pox on Americans. WHile they may offer cheap prices for some of their crap, that is negated when we have to subsidize their workers because cheap-shit Walmart keeps hours cut to avoid paying benefits. It just puts more millions in the pockets of the Walton family (read that as American traitor pieces of shit). We need to tax all Walmart stores for the monies we spend subsidizing their workers.
WinstonSmith4740
(3,048 posts)Besides the corporate greed, mistreatment of employees, and carrying the cheapest shit on earth, people are getting fed up with WalMart. I read a study recently that said people are figuring out the drive to get there at $4.00/gal isn't worth the few cents you'll save on an item. Empty shelves & skeleton crews don't help either.