Word: retailers
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Walmart, the world's largest retailer, has seen better days. Yes, profits rose 22%, to $4.63 billion, in the fourth quarter of '09. Even coming out of the Great Recession, many consumers are trading down to shop at the discount superstore. However, for the third straight quarter the store saw negative same-store sales growth; during the last three months of 2009, same-store sales dropped 2%. Overall traffic in Walmart stores was down too. To Walmart executives and investors, this disturbing trend has to be reversed; despite the earnings growth, Walmart's stock fell 1.1% on the day earnings...
...less robust grocery selection from Walmart, decided to make an extra trip to the neighborhood supermarket, or even dollar stores, to take care of their basic needs. Plus, brands that were spurned by Walmart ran into the arms of its competitors, who were willing to compete aggressively with the retailer on price. "Suppliers don't care about going to war with Walmart because they've been stiffed by its new procurement practices," says retail consultant Burt Flickinger III, managing director of Strategic Resources Group, "and they know they'll be treated fairly at the other stores." (See how Americans...
...HUDS retail locations that accept Board Plus, click here. You can also check out our Crimson Cash map here...
Staying at Harvard over spring break? FlyBy brings you a breakdown of dining hall and HUDS retail closings for this upcoming week. Although it looks like most places will be closed, a few Board Plus-friendly HUDS locations will remain open during the break. Check it out below...
...RETAIL DINING...