Walmart

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Exxon Retakes Top Spot in Fortune 500

Wal-Mart slips to second in 'worst-ever' year for the 500

(Newser) - Exxon Mobil snagged a whopping $443 billion in revenue to unseat Wal-Mart from the top spot in this year's Fortune 500 list, CNN reports. The two behemoths thrived on jacked-up oil prices and the recession respectively, but the picture was a lot bleaker for most of the rest of the...

Wal-Mart Gives Workers $2B in Bonuses, Rewards

(Newser) - The recession has been kind to Wal-Mart, and it’s decided to share the wealth with the wage slaves. The mega-discounter will dole out about $2 billion in financial incentives to its hourly workers, Reuters reports, including $933.6 million in bonuses and $788.8 million in profit-sharing and 401(k)...

Wal-Mart Crushing Target
 Wal-Mart Crushing Target 
Mar 14, 2009 11:18 AM CDT

Wal-Mart Crushing Target

(Newser) - In theory, Target should be thriving in the recession because it's a discount retailer. In reality, it's in a funk, even as rival Wal-Mart flourishes, reports Time. The difference? Target is viewed as a place to buy nice clothes at nicer prices—and right now, nice clothes seem like a...

Wal-Mart to Offer Doctors Digital Health Record System

(Newser) - Wal-Mart is moving to provide a low-cost way for physicians in small offices to use electronic health records, the New York Times reports. The company—teaming with Dell for computers and eClinicalWorks for software—plans to offer a system for under $25,000, about half the current cost. The idea...

GM Drives Stocks Back Down
 GM Drives Stocks Back Down 
MARKET Open
Mar 5, 2009 8:49 AM CST

GM Drives Stocks Back Down

I bet you didn't even notice the pun

(Newser) - Bears made short work of yesterday’s rally, driving the Dow down 120 points at the open today after GM said its auditors doubted it could continue operating. The S&P sunk roughly 2%, while the Nasdaq fell 1.6%. GM shares plummeted 13%, and are trading below $2. Ford...

Food Network Cooks Up Winning Web Strategy

Revenue growth from Web offerings burns the competition

(Newser) - Food Network has found the recipe for double-digit revenue increases during one of the harshest first quarters for media companies in recent memory, Advertising Age reports. Turns out it’s guacamole. FoodNetwork.com saw a 44% spike in ad revenue in January, in large part due to viewers seeking recipes...

'Insourcing' Is Recession's DIY Buzzword

From hairdressing to gardening, 'insourcing' is hot

(Newser) - The recession is prompting Americans to forgo luxuries—and that means doing for themselves what they would once have paid someone else to do, the Washington Post reports. Starter sewing-kit sales have soared 30%; landscapers are losing business; customers are forsaking salons to dye their own hair. The trend is...

Food Spending Turns Anorexic
 Food Spending Turns Anorexic 
Feb 13, 2009 9:36 AM CST

Food Spending Turns Anorexic

Restaurants, name-brand food hit hard as diners opt for cheaper fare

(Newser) - Americans have trimmed their food spending sharply, hitting restaurants, food retailers, and brand-name food producers squarely in the gut, the Wall Street Journal reports. In the last quarter of 2008, spending on food plunged an inflation-adjusted 3.7% from the previous quarter, the steepest decline since the government began keeping...

Dow Up 106; Hope for a Bottom
 Dow Up 106; Hope for a Bottom 
MARKETS
Feb 5, 2009 3:18 PM CST

Dow Up 106; Hope for a Bottom

MasterCard's success boosts financials

(Newser) - Stocks rebounded after initially falling lower today, as investors snapped up bargains from depressed equities, MarketWatch reports. MasterCard led advances with a 14% gain after beating profit estimates. Wal-Mart was another strong performer, rising 4.33% on strong January sales. The Dow closed up 106.41 at 8,063.07....

Stocks Fall on Retail, Job Data
 Stocks Fall on Retail, Job Data 
MARKET Open
Feb 5, 2009 8:52 AM CST

Stocks Fall on Retail, Job Data

(Newser) - Stocks slid at the open today, following yet more negative numbers from retailers and the Labor Department, the Wall Street Journal reports. The Dow dropped 52 points, while the S&P fell 1%. The Nasdaq dropped 1.2%, weighed down by sub-par earnings from Cisco. New jobless claims ripped past...

Stocks Mixed on Retail News
 Stocks Mixed on Retail News 
MARKETS
Jan 8, 2009 3:32 PM CST

Stocks Mixed on Retail News

Wal-Mart falters, but Sears posts strong forecast

(Newser) - Stocks ended mixed today amid largely negative retail news and nervousness on unemployment, MarketWatch reports. Investors were shaken by poor December earnings and a reduced quarterly forecast posted by Wal-Mart, which managed to perform well through 2008. The Dow fell 27.24 to close at 8,742.46. The Nasdaq,...

Wal-Mart Sends Dow South
 Wal-Mart 
 Sends Dow 
 South 
MARKET Open
Jan 8, 2009 8:48 AM CST

Wal-Mart Sends Dow South

Retailers not doing so hot

(Newser) - Stocks tumbled at the open today after Wal-Mart slashed its earnings estimates, driving fear in the retail sector. The Dow dropped 62, while the Nasdaq and S&P fell 0.5% and 0.7% respectively. There was more bad news on the job front, with unemployment claims climbing to their...

Best Buy Offers Used iPhones for $50 Less

Retailer tries to undercut the competition with refurbished handsets

(Newser) - With an eye to newly frugal consumers, Best Buy is offering refurbished iPhone 3Gs for about $50 less than new handsets, Reuters reports. The retailer offers previously owned 8- and 16-gigabyte iPhones (returned in 30 days or less) for $149 and $249, respectively. Best Buy may be trying to undercut...

iPhones Hit Wal-Mart on Sunday
iPhones Hit Wal-Mart on Sunday
Dec 26, 2008 1:06 PM CST

iPhones Hit Wal-Mart on Sunday

Discount retailer shaves whopping $2 off price for gizmo

(Newser) - Wal-Mart shoppers will notice a flashy new phone on the shelves Sunday, but the price may induce sticker shock, Reuters reports. The iPhone is making its long-awaited Wal-Mart debut, but the 8-gigabyte version comes with a $197 price tag and requires a 2-year AT&T contract. Rumors had flown that...

Wal-Mart Will Pay $640M to Settle Wage Lawsuits

(Newser) - Wal-Mart will pay up to $640 million to settle 63 state and federal class-action lawsuits that alleged it forced employees to work off the clock and skip breaks, the New York Times reports. The lawsuits involve hundreds of thousands of former and current hourly wage workers. The settlement—it will...

Desperate Retailers Offer 24-Hour Shopping

More stores are extending hours to catch last-minute shoppers, night owls

(Newser) - With the holiday shopping season on track to be the worst in decades, more struggling retailers like Toys "R" Us, Macy's, and Wal-Mart are opting to keep their doors open 24 hours the last few days, hoping to entice last-minute shoppers and night-owls, reports the Wall Street Journal. "...

Recession Bites Into Apple
 Recession Bites Into Apple 
Dec 16, 2008 4:57 AM CST

Recession Bites Into Apple

November sales down, stock falls

(Newser) - Even apparently recession-proof Apple is now beginning to show signs of strain, and some analysts are predicting a major slowdown for the computer giant next year, the Wall Street Journal reports. US sales of Macs last month declined 1% over a year ago, while PC sales rose 2%. One analyst...

Sorry, Kids: No $99 iPhone at Wal-Mart

(Newser) - Rumors that Wal-Mart would offer an iPhone for $99 after Christmas proved unfounded, but the genesis of a misunderstanding that swept through business news outlets is intriguing, Fortune reports. Wal-Mart will indeed sell iPhones, and at a discount—a whopping $2 off list price. But a blogger’s report of...

Retailers Post Worst Month This Decade

But Wal-Mart, other discounters profit from downturn

(Newser) - November was the worst month for retail in a decade, reports the Financial Times, as stores from Macy's to Abercrombie & Fitch posted double-digit falls in sales. Mid-market stores like Target posted worse-than-expected numbers, while department stores crashed. But giant Wal-Mart, leading a small number of discounters, managed to...

Stocks Go South at Bell
 Stocks 
 Go South 
 at Bell 

MARKET Open
Dec 4, 2008 8:48 AM CST

Stocks Go South at Bell

Dow down 150

(Newser) - Stocks took a modest dip at the open, amid a weak round of retail sales numbers and general economic pessimism. The Dow fell 81 points, while the S&P and Nasdaq dropped 1.3% and 1.4% respectively, the Wall Street Journal reports. Stocks started to the downside yesterday, but...

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