Wal-Mart Stores, Inc (NYSE:WMT) says re-stocking rumors baseless- business roaring – TGT, COST

Boston, MA 04/03/2013 (wallstreetpr) – Though Wal-Mart Stores, Inc (NYSE:WMT) (current: $76.02, Up by 0.78%) has been trying to underplay the situation that they are facing with restocking their shelves, the more than 1000 complaints that they have received via e-mail, prove otherwise. Walmart customers from locations as distant from each other as Vermont, Texas, Florida and Hawaii said that the situation was far worse than the company making everyone to believe. The retailer is hugely understaffed and is subsequently unable to refill shelves. Shopper queries are either being cold-shouldered or left unanswered and cash registers are unmanned.

Misrepresentation of facts
The Wal-Mart Stores, Inc (NYSE:WMT) spokesperson Brooke Buchanan said that the entire issue is being blown out of proportion by a handful of people and cannot be considered to be a standard situation across all the Walmart stores. The company has been in the news for some time now for its inadequacies on the re-stocking and customer service front and even long-time loyal customers are getting fazed by the situation that doesn’t seem to be changing for the better. The retailer was once admired for the wide variety of goods it offered its shoppers and coupled that with low prices too.

Losing loyal customers
Many people were saying that they were now avoiding the Walmart in the vicinity and driving further to better-stocked stores but ended up spending more in the bargain. Analysts have averred that the thinning workforce is at the root of the issue. There was a drop of 120,000 employees at the Walmart and Sam’s Club warehouses from 2008- 2013. Contradictorily the company has been ramping-up on the number of stores and has added 455 new Walmart stores in the U.S and the total now stands at 4,005. The company says that it actions close to 500,000 customer surveys on a monthly basis and most customers have been providing very positive feedback on parameters such as store cleanliness, checkout lines and the customer service that is provided at all its stores.

Walmart still tops
Some random survey with a handful of people taken into account cannot be considered to be a fact is what Walmart maintained. The Walmart sales stood in the range of $274.5 billion at the end of Jan 31 and exceeded the sum total of Target Corporation (NYSE:TGT) (current: $68.83, Up by 0.25%) and Costco Wholesale Corporation (NASDAQ:COST) (current: $107.68, Up by 1.77%) sales. The retailer said that 3/4 th of Americans shop at Walmart stores every month and last year alone it had 6.6 billion visits which had increased by 23 million from the previous year.

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Published by Pushpa Naresh

Pushpa Naresh has done MBA (Finance) and an avid market tracker. She is a technical analyst who closely tracks US markets along with other global markets like India. She has been expressing her views about markets and also advises various clients.

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