Wal-Mart Reassures Stakeholders On Growth
Wal-Mart Stores Inc., the biggest retail store chain in the world, on Friday reassured its investors and employees that it can achieve its growth targets as the company beefs up its marketing strategy in various markets worldwide.
The world’s largest retailer Wal-Mart Stores Inc. on Friday reassured investors and other stakeholders that it will be able to meet its growth targets as it boost sales in its online business and international markets.
Wal-Mart said that it is now looking for sales in all possible places – including mobile markets and international businesses like African, where room for growth remained untapped.
Bill Simon, Wal-Mart US chief executive, said that these new markets are important for the company in order for it to come back to profit after more than two years of declining sales.
The world’s largest retail store chain have seen lackluster sales figures as many bargain-seeking customers shifts to cheaper alternatives such as “dollar” stores.
However, many economists doubted that Wal-Mart can achieve a complete turn around within this year, pointing to the weak performances of the company’s shares.
Since the annual stockholders meeting, the retailer’s shares went up by only 6.3 percent, far below the 23.3 percent increase recorded in the previous year.
Also, the analysts said that several factors should be considered in Wal-Mart’s growth figures, including the high unemployment rates and the declining consumer sentiments this year.