The new issue of Private Label Buyer includes the following in depth article written by Kathy Canning. It is a nice in depth look at the changes that Walmart is making and the evolution of “Great Value.”
While many other retailers have seen sales tumble during this painful, prolonged recession, Bentonville, Ark.-based Wal-Mart Stores Inc. (Walmart) has been bucking the downtrend. The world’s largest retailer has been luring in bargain hunters — including a previously untapped ensemble of middle- and upper-middle-income shoppers — with its two-year-old “Save Money, Live Better” promise, a new logo and other strategic changes.
In prepared remarks for Walmart’s 2009 shareholder meeting on June 5, new President and CEO Mike Duke noted that the retailer’s performance during the past year (fiscal 2009, ending Jan. 21, 2009) was strong, with worldwide sales surpassing the $400 billion mark for the first time.