January 7, 2005 06:09 PM
Before Christmas, Wal-Mart Was Stirring
Excerpt: In one respect, Wal-Mart is no different from any other retailer: the Christmas season accounts for a disproportionate share of its yearly income. For Wal-Mart, analysts estimate the holidays represent close to 20 percent of annual sales, or about $50 billion.
By 8 a.m. on the Friday after Thanksgiving - the biggest shopping day of the year - Michael T. Duke, president of the stores division of Wal-Mart, already knew he was in for trouble.
Two hours earlier, Mr. Duke had arrived at a Wal-Mart in Atlanta, prepared to undo shrink wrap and help customers load television sets into their cars. But all the while, he was receiving less than ecstatic reports on his BlackBerry from other Wal-Mart stores around the country. And in the early hours of the morning shopping rush, he drove to Best Buy, Target, Kohl's, Sears and other nearby discount merchants to compare how they were doing.
"At 7 a.m., I looked at the readings coming in from other states, and my gut feeling was confirmed," he recalled in an interview yesterday. "By 8 a.m., we knew we had an issue."
The next day, Wal-Mart told investors that November sales, which included the day after Thanksgiving, were below expectations, a listless 0.7 percent higher than the previous November. Last week, the company predicted December sales for stores open at least a year would be roughly 2 percent higher - well below the 4.3 percent gain during Christmas 2003.
Yet from these disappointing announcements, Wal-Mart, the country's biggest retailer, managed to come back with style. Tomorrow, it is expected to announce that December sales achieved a 3 percent gain over sales for December 2003 - a result that Mr. Duke said last night "surprised everyone, including people inside the company."
Yesterday, several of Wal-Mart's top executives, in a rare interview on the inner workings of the company, described - day-by-day and some cases, hour-by-hour - how they reacted to initial dismay. They explained what they did to steer the stores back on course, from the markdowns to the open-microphone meetings with workers to the multimillion-dollar ad campaign.
READ FULL STORY ...Best Rock For Your Buck - Feb 13, 2005
'Simplified' Ticketing Is Not So Simple For All Fliers - Feb 07, 2005
Blockbuster With a Joystick - Feb 07, 2005
Picking Rewards Deals? Seek Loyalty - Feb 07, 2005
FCC: Cable TV Rates Rose 5.4% In 2003 - Feb 06, 2005
Powell to Step Down at F.C.C. After Pushing for Deregulation - Jan 25, 2005
Apple Changes Course With Low-Priced Mac - Jan 15, 2005
How To Tip Well - Jan 14, 2005
A Little Retail Hustle Paid Off in Holiday Sales - Jan 07, 2005
Delta Fare Plan Turns Industry on Its Head - Jan 07, 2005
Delta Plans to Streamline Fare System - Jan 07, 2005
TiVo Upgrade Puts TV Shows On Laptops - Jan 04, 2005
What You Wanted, What You Got - Jan 01, 2005
How To Handle Charity Solicitations - Dec 29, 2004
Be Careful When Donating To Charity - Dec 29, 2004
Charged Today, Tapped Out Tomorrow? - Dec 28, 2004
Be Prepared When Returning Gifts - Dec 27, 2004
$10 for a Plain CD or $32 With the Extras - Dec 27, 2004
10 Ways To Save Money When Cruising - Dec 27, 2004
New Nigerian Scam Suckers Online Sellers - Dec 27, 2004
Stop Shopping; Give Cash As A Gift - Dec 27, 2004
Last-Minute Shopping Made Easier - Dec 26, 2004
Phone-Network Leasing Rules Eased - Dec 26, 2004
How To Minimize Holiday Debt - Dec 24, 2004
Holiday Shoppers Should Rethink How They Pay - Dec 22, 2004
Lower Living Costs, Keep More Money - Dec 22, 2004
Blockbuster Cuts Online Prices - Dec 22, 2004
Making Your Generosity Pay - Dec 21, 2004
Price Cuts Get Deeper - Dec 21, 2004
Charitable Giving: The Right Match - Dec 21, 2004
In the Bay Area, TiVo Supplies DVR's at a Terrific Price: Nothing - Dec 19, 2004
Cell Phone Calls In Flight? - Dec 09, 2004
Holiday Tipping - Dec 09, 2004
Tunes Coming To Callers? - Dec 08, 2004
Electronic Ways to Pay Eclipse Checks in Number - Dec 07, 2004
The Trouble With Rebates - Dec 07, 2004
Customers Tire of Excuses for Rebates That Never Arrive - Dec 07, 2004
'Phishing' Attacks Surge In 2004 - Dec 06, 2004
Bush Signs Internet Tax, Special Ed Bills - Dec 05, 2004
The Wide World Of Online Shopping - Dec 04, 2004
Shopbots: Your Own Automated Shopping Assistant On The Web - Dec 04, 2004
Traveler: Know Your Options - Dec 04, 2004
Worried Merchants Throw Discounts at Shoppers - Dec 04, 2004
Regifting 101 - Dec 02, 2004
Health Costs Up 7.5% - Dec 02, 2004
5 Popular Holiday Shopping Scams - Nov 30, 2004
Slick Tips for Holiday Shopping - Nov 28, 2004
Give Gifts That Give Back - Nov 28, 2004
Tips For Stretching Your Holiday Budget - Nov 26, 2004
Meet The Bargain Hunters: Three Everyday Experts Share Their Tips - Nov 26, 2004
Smart Holiday Shopping - Nov 25, 2004
Some Shoppers Find Fewer Happy Returns - Nov 07, 2004
• Structured Settlements
www.setcap.com - cash for structured settlements, sell annuity, lottery winnings, and more.
• Personal Finance: Finance News Today provides money saving tips, news, and articles on personal finance issues like insurance, real estate, college planning and much more.
• Compare all our 0% Credit Card UK against our 0% balance transfers and cash back deals.
• Browse through our Credit Cards deals and apply online.
• financial tip - financial tips article and more.
• Arizona llc - incorporate a arizona llc. they offer solutions for limited liability company asset protection in arizona and california. incorporation services are provided online with 24 hour filings and expedited approvals. www.paralegal-plus.com for cpa lawyers.
• Credit Repair
repairmycreditnow.com/Credit_Repair_Advice.htm - repair my credit now credit services offers credit repair, restoration and education through our exclusive "v" phase process ™.
• Citibank Home Equity Lines of Credit: Rates as low as Prime - 0.50% variable APR for Life, currently 5.50% variable APR.
• Day Trading - day trading signals for active stock and options traders.
• Ken Langone - ken langone: make my day
• Credit Repair - repair my credit now credit services offers credit repair, restoration and education through our exclusive "v" phase process ™
• Online Option Trading - oexoptions is an oex online stock option trading company offering a free 15-day trial for all new customers.
• fix bad credit
Want to See Your Ads Here? Claim Your Ad Space at Personal Finance Weblog by Writing to Webmaster. Starting at $25/month, see your text ads in more than 2,000 indexed pages at PFBlog, the Best Personal Finance Blog, or MM Money, MM's Daily Personal Finance Readings. Full Rate Card Available Here.
