Posted on 12/07/2018 1:38:54 PM PST by Red Badger
Walmart’s Doug McMillon keeps a list of the top 10 retailers over the decades to remind him you have to innovate and adapt constantly. Becky Quick | CNBC
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Walmart CEO Doug McMillon keeps a photo on his phone that lists the top 10 retailers in the U.S. over the past few decades to remind him how so many companies come and go. Walmart wants to keep its No. 1 spot, which it’s held since the 1990s when it overtook Sears.
“After learning from so many people ... we know that retailers come and go,” McMillon told CNBC’s Becky Quick Thursday, after he spoke in Washington, D.C., at the Business Roundtable CEO Innovation Summit. “Businesses grow and they don’t change enough and they decline over time. Retailers do that on a bit of a faster cycle.”
McMillon added Walmart has a “healthy paranoia” to stay ahead of rivals. Today, the retailer is seen as neck and neck with Amazon, which is starting to invest more in real estate and open stores while building out a bigger platform for food and apparel online. In fact, the e-commerce giant is expected to overtake Walmart as the No. 1 apparel retailer in the U.S. by the end of this year, according to Morgan Stanley.
Walmart, in turn, is fighting back by acquiring digital brands and remodeling its stores — two key parts of its growth strategy. Thursday it announced its plans to acquire Art.com to bolster its home decor business, following recent acquisitions of lingerie brand Bare Necessities and plus-size clothing retailer Eloquii. It’s said it could one day own as many as 40 e-commerce businesses, while Amazon has taken a different approach to growth. Instead, it continues to partner with established brands like Nike and J.Crew to sell their merchandise on Amazon.
“You see the rise and fall of Sears and others,” McMillon said. “It’s just a reminder that this can happen to us too.”
I have a soft spot for Sears. shame they were run into the ground.
Yeah, I remember my Tops card trading days well. Back in the day when a deal was a deal and lawyers weren’t needed.
I have a soft spot for Sears. shame they were run into the ground.
I know Sears is doomed because I am seeing lots of Craftsman tools sold at Lowes, and they’re all made in China. Might as well go to Harbor Freight.
All gone now.
Store managers at Walmart average $136,000 in salary and an additional $70k in bonus. So over $200K in total compensation.
Got my last Die-Hard battery for the car there last year. They just closed a slew of Sears stores near me. I expect the Die-Hard will show up at the local car stores soon.
I am in the wrong business
Sigh
Too funny! That's exactly what my mother did when I went to Marine Corps boot camp.
Also, I built my music collection in the same manner. In my younger days, I used to go to yard sales and pick LPs out of milk crates. The mothers had no idea as to the worth. I was getting vintage Pink Floyd and Bob Dylan albums for 50 cents or a dollar. One time, I was browsing through several crates towards the end of the day and she told me I could have the whole stash for $20. She just wanted to be rid of it I lugged home over 100 albums, lot of it crap like Bay City Rollers and Captain & Tennille but some gems as well.
69 Posts and not a single mention of www.jet.com
THAT is Walmart’s problem.
Okay. I was making 9 an hour with a max of 33 hours a week. Conditions were awful. I would never again work at Walmart ever. Worst job I’ve ever had.
I pay 119 a year for prime. I have tons of amazon stuff associated with my account.
Hate Walmart.
It has FW Woolworth as a top company in 1980 but not in 1950??? Something is not kosher with that list.
I do a monthly order from Walmart. Paper towels, TP, Febreze, hairspray, Dog Snacks, coffee, etc., etc. All my hard goods delivered right to my door. I love it. Then when I actually go to the grocery store all I have to buy is groceries. And occasionally I have my groceries delivered. Walmart here now does grocery delivery or grocery pickup. You choose.
I have 3 Walmart stores within a 7 mile radius of me......One about 3 miles away, another about 4 miles then the one 7 miles away.
I have 4 huge Walmarts and several grocery Walmarts near me. Don’t ever darken any of their doors. I refuse to go there but like doing the monthly order from them.
As someone who worked at Wal-Mart for over three years, I bet those trailers are being used to hold excess merchandise for holiday sales. We’re they in the normal parking lot or in a staging area behind the store?
In the normal parking lot, set length wise across several
parking spaces and 3 or so lanes apart. Trailer opening
facing the store and maybe 8 spaces or so from the store.
I don’t know but I’ve never seen them parked like these.
I do know the food shelves were getting bare when I was
there even though the store wasn’t that crowded.
Sales is not necessarily close to stock price/valuation.
Two Guys improved when they added three more guys and started making hamburgers.
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