Wal-Mart managers received instructions to mark up an average of 1,800 types of toys per store, according to a company e-mail dated Nov. 30 obtained by Bloomberg News. The e-mail didn’t disclose specific increases. The prices were changed “to better enable your store and the company to have a successful financial month,” according to the e-mail.This is the same company who according to a statement last week said, "New Yorkers know that Walmart is focused on lowering prices to save customers money." Walmart's PR machine drives the message of savings, but they're only interested in one thing, profit at any cost.
The directive from Wal-Mart, which has about 3,800 U.S. stores, told managers to do the markups as soon as possible. The move may help Chief Executive Officer Mike Duke fulfill his October prediction that sales in stores open at least a year will be positive this quarter, after six straight drops.
Tuesday, December 21, 2010
Walmart e-mails discovered by Bloomberg News confirms hike in Toy prices
Walmart e-mails confirm hike in toy prices, from Bloomberg News: