FINANCE

Wal-Mart first-ever retailer to launch online ‘pay with cash’ option

BY Katherine Boccaccio

Bentonville, Ark. — Walmart said Thursday it has launched a “Pay with Cash” service that offers cash payment options for online orders at Walmart.com in the United States.

Walmart is the first major retailer to offer online purchases without the need for banking services or a credit, debit or prepaid card.

The retailer said that the majority of its in-store transactions are paid in cash or cash equivalent, including debit cards, with just 15% of transactions paid in credit. The “Pay with Cash” program will allow the same payment options online, which is expected to appeal to the retailer’s customer base.

To use the option, a shopper places an order on walmart.com and, during checkout, selects the "Cash" option and a shipping preference. The customer immediately receives an order number on the order confirmation page and an email receipt with the order number. The item is reserved in the system.

The customer has 48 hours to take the printed order form to any cash register of any Walmart store or Neighborhood Market.

Once cash payment is completed in the store and received, shipping then occurs via Site to Store or to a preferred address.

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OPERATIONS

Report: Mexico’s federal watchdog to investigate Wal-Mart Mexico permits

BY Katherine Boccaccio

Mexico City — A Wall Street Journal report on Thursday said that the Mexico’s Ministry of Public Functions – the country’s public-sector watchdog – will investigate new-store permits secured by Wal-Mart’s Mexico division, Wal-Mart de Mexico.

The agency is looking for misconduct on the part of federal government employees in granting construction and other permits, according to WSJ.

Parent company Wal-Mart Stores is conducting its own investigation into allegations that Walmex paid bribes to public officials in Mexico to speed new-store openings.

Should the Ministry of Public Functions find that irregular conduct occurred, the federal government will take action, said the report. If the ministry finds evidence that public employees at the local level accepted bribes or otherwise engaged in illicit activity, then it will turn that evidence over to the corresponding local authorities, the ministry said.

The ministry also said it plans to request information from U.S. authorities so as to better investigate the allegations.


Read more about the alleged Wal-Mart bribery scandal.

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News

Double-digit comps boost Tractor Supply in Q1

BY CSA STAFF

The Brentwood, Tenn.-based farm and ranch retailer saw same-store sales increase 11.5% in the first quarter ended March 31. Net sales increased 22% to $1.02 billion.

Net income for the quarter was $40.3 million, compared to net income of $18.3 million in the same quarter last year.

"We are delighted to have reached another milestone, achieving record first quarter sales in excess of one billion dollars for the first time in Tractor Supply’s history,” said Jim Wright, chairman and CEO. “Customers responded favorably to our spring products and the continual enhancements we have been making to our merchandise assortments. Our proactive planning allowed us to capture the earlier spring selling season in Southern markets and we reacted quickly to capitalize on the early spring weather seen in March. We continue to evolve our assortments and the in-store experience to ensure we have the right product and marketing programs in place to keep customers highly engaged throughout the spring and summer selling seasons."

The company opened 33 new stores and closed one store in the first three months of the year, bringing the total to 1,117 stores in 44 states.

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