Wal-Mart Reportedly Looking to Use More Part-Timers
New York City, Wal-Mart is pushing to create a cheaper, more flexible work force by capping wages, using more part-time workers and scheduling more staff on nights and weekends, The New York Times reported on Monday.
The report said that investment analysts and store managers say Wal-Mart executives have told them the company wants to transform its work force to 40% part-time from 20%. Wal-Mart denies it has a goal of 40% part-time workers, although company officials said part-timers now comprise 25% to 30% of its workers, up from 20% last October, according to The New York Times.
New Duckwall-ALCO Store to Carry Products by Bass Pro Shop
Abilene, Kan., Duckwall-ALCO announced that a new ALCO store will open in November in Girard, Kan. The store will be the company’s first to carry products by Bass Pro Shops. In addition to carrying branded Bass Pro Shops’ hunting, fishing and outdoor gear, the new Girard, Kan., store will also include branded RadioShack products, much like the company’s Abilene, Kan., store.
Petco Animal Supplies Ratings Removed From Watch
New York City, Standard & Poor’s Ratings Services said today that it lowered its ratings on Petco Animal Supplies Inc., including lowering the corporate credit rating to ‘B’ from ‘BB’. All ratings are removed from CreditWatch, where they were placed with negative implications on July 14, 2006.
On July 14, 2006, Petco accounted that it had entered into a merger agreement with affiliates of Leonard Green and TPG in a transaction valued at approximately $1.9 million. The company has $200 million of rated debt.
“The downgrade reflects a significant increase in financial risk following the LBO of the company,” said Standard & Poor’s credit analyst Robert Lichtenstein.