Tuesday, August 15, 2006
Wal-Mart's Profits Drop
Wal-Mart's quarterly profit dropped 26%. There may be lots of reasons; gas prices, remodeling stores, trying to sell upscale products, loss of customers. But mainly, because they couldn't compete in Germany and had to sell out to Metro AG at an $863 million loss. Why don't Germans and Koreans love Wal-Mart? Is it because Wal-Mart is not good at adapting?