Wal-Mart released quarterly sales and earnings. You can read the release here.
We found this the most interesting quote from the release:
“We are pleased that Wal-Mart again had record sales and earnings for the third quarter,” said Lee Scott, Wal-Mart Stores, Inc. president and CEO. “In addition, we are pleased that we’ve seen improvements in gross margin in all three segments of our business.
“Although sales in the U.S. were softer than we hoped for in the third quarter, there are real opportunities in the fourth quarter to build on the momentum of the aggressive pricing strategy we have implemented in our stores for the holiday season,” Scott added. “This season, no one will doubt Wal-Mart’s leadership on price and value.”
What? The President and CEO of Wal-Mart is talking about an “…aggressive pricing strategy we have implemented in our stores for the holiday season…”
Good thing they mentioned he was from Wal-Mart, home of Every Day Low Prices (EDLP). Otherwise we would be tempted to think they were having a sale.
Did you see that Wal-Mart is trying to trademark EDLP? Read about it here.