• The NY Daily News reports that in a survey of New Yorkers by Quinnipiac University, 51 percent said they would not mind a Wal-Mart opening in the five boroughs, and only 37 percent said they would object. In addition, 47 percent of union households in NY said they’d shop at Wal-Mart if it were convenient.
However, the study also revealed that 74 percent of New Yorkers believe that Wal-Mart hurts small mom-and-pop businesses, and 57 percent said that they felt Wal-Mart’s employees were underpaid.
• Wal-Mart announced last week that from now on when it files its financial reports, it will use stores open for 12 calendar months when it calculates same-store sales; previously, it has only factored these stores in once the next fiscal year after their 12-month anniversary had started. The company also said it will exclude Sam’s Club fuel sales from its same-store sales reports.
The retailer said the new system was more in line with industry standards.
• Wal-Mart on Friday moved yet again to void the retirement agreement of Tom Coughlin, the company’s former vice chairman who had pleaded guilty to wire fraud and tax evasion charges. It is appealing a previous ruling that left the retirement benefits in place because both parties had agreed not to try and negate it.
Wal-Mart maintains that the agreement ought not to be enforced because it was unaware of Coughlin’s illegal activities when they signed it.
• Wal-Mart reportedly has filed for official permission from the Indian government to open an office there to explore the possibility of opening stores in the country. Wal-Mart already has an office in India that buys products to be exported to its operations in other nation.
However, the study also revealed that 74 percent of New Yorkers believe that Wal-Mart hurts small mom-and-pop businesses, and 57 percent said that they felt Wal-Mart’s employees were underpaid.
• Wal-Mart announced last week that from now on when it files its financial reports, it will use stores open for 12 calendar months when it calculates same-store sales; previously, it has only factored these stores in once the next fiscal year after their 12-month anniversary had started. The company also said it will exclude Sam’s Club fuel sales from its same-store sales reports.
The retailer said the new system was more in line with industry standards.
• Wal-Mart on Friday moved yet again to void the retirement agreement of Tom Coughlin, the company’s former vice chairman who had pleaded guilty to wire fraud and tax evasion charges. It is appealing a previous ruling that left the retirement benefits in place because both parties had agreed not to try and negate it.
Wal-Mart maintains that the agreement ought not to be enforced because it was unaware of Coughlin’s illegal activities when they signed it.
• Wal-Mart reportedly has filed for official permission from the Indian government to open an office there to explore the possibility of opening stores in the country. Wal-Mart already has an office in India that buys products to be exported to its operations in other nation.
- KC's View:
