Wal-Mart Reigns King of Retailers January 1st, 2009
As we welcome a new year, most couldn’t be happier to bid farewell to 2008. It was no doubt a year filled with imposing predictions about the state of the economy that were often seeded with a strong dose of cynicism, especially during the holidays when historically consumers spend more than any other time of the year. While economic conditions often prevail consumer habits, some retailers are experiencing or at least maintaining their growth during what economists have declared a recessionary period.
Namely, the global discount chain, Wal-Mart has been fortunate to witness modest profit growth throughout 2008 and is expected to continue to see revenue increases through 2009. Consumers have flocked to the retailer to take advantage of their discount prices and “Always Low Prices” to stretch their dollar to cover necessities such as food and gas in the one-stop shop Wal-Mart offers customers. Not only can they grocery shop, get their oil changed and tires rotated, but they can pay a visit to the onsite optometry center to get a quick eye exam before heading home.
Whether for their “Always Low Prices”, accommodating shopping scene, or the like, the giant retailer is no doubt reaping revenue earnings while other retailers such as Levitz Furniture and Sharper Image have filed for bankruptcy protection. While observers anticipate economic conditions to improve over the next year, consumers will most likely continue to patronage the discount retailer, yielding significant profit growth for Wal-Mart in comparison to other retail stores.
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