Report: Wal-Mart in Global Online Push
Bentonville, Ark. Wal-Mart is to seeking to emulate Amazon’s global success, launching an international e-commerce initiative aimed at securing billions of dollars of additional sales in countries including China, Japan and Brazil, according to The Financial Times.
The retailer is increasingly looking to overseas sales to offset slowing growth in the United States, and said it will invest “millions of dollars” in what it labels “a multi-billion dollar opportunity over the next three to five years,” the report said.
A new global unit at Wal-Mart’s international division will oversee the creation of an e-commerce platform that could sell groceries, general merchandise and digital products while linking its stores with call centers.
The retailer is now recruiting software architects and engineers to build a system that includes data mining and customer analysis that could be readily deployed in different markets.
Wal-Mart described the initiative as “an important effort for the company,” but declined to give further details. “The opportunity in this area is tremendous,” it added.
The move reflects growing interest among U.S. retailers in the international possibilities of e-commerce, after an initial focus on expanding the U.S. market.
Stage Stores says Peebles evp to retire
HOUSTON Stage Stores today announced that Dennis Abramczyk, evp and coo of its Peebles Division, will be retiring after approximately nine years with the company. He will continue to serve in his position until a replacement is found.
Jim Scarborough, chairman and ceo, commented, “We want to thank Dennis for his contributions and service to our company, and we wish him well as he begins this new phase of his life. We will immediately begin a search for his successor, and we are pleased that Dennis will be staying on until the conclusion of our search process, as this will ensure a smooth and orderly transition.”
Home Depot to cut 500 HQ jobs
ATLANTA Home Depot is cutting 500 jobs at its headquarters. According to reports the cuts make up 10% of the 5,000 employees who work at the headquarters.
The cuts are partly due to the struggling U.S. economy, which has hurt market conditions, reports said. Employees were notified of the eliminations today, they will be paid through April 4.
Home Depot reported fiscal 2007 third quarter consolidated net earnings of $1.1 billion, or 60 cents per diluted share, compared with $1.5 billion, or 73 cents per diluted share, in the same period in fiscal 2006.