Wal-Mart Stores, Inc. (NYSE: WMT) announced this week that it had completed the opening of 36 new stores and wholesale clubs across the U.S. for the month of October. This could be seen as a PR effort to trumpet the new jobs these locations have created in several nationwide communities.
Indeed, Wal-Mart stated that 10,800 new jobs will be available for new associates in these just-opened locations, along with an additional 4,300 new associates having been hired to fill positions at expanded and relocated stores nationally as well. Well, for a company that has publicly said that it will slow down store growth to make existing stores more profitable and temper market saturation, it's hard how to read this news outside of the "job creation" angle. Perhaps there's not one.
As one would expect by now, Wal-Mart COO Bill Simon worked in the retailer's corporate motto by stating that these new locations would be "helping our customers nationwide save money so they can live better." With the holiday shopping season arriving and home equity borrowing slumping due to shrinking home sales, those words carry more weight now than at anytime this year.
The new stores are spread across 22 states, from Oklahoma to Florida. Since February of this year, the world's largest retailer has opened 163 new Supercenters and 19 Sam's Clubs, among other store formats. Job creation count? 61,500, according to Wal-Mart.
Wal-Mart opens 36 new stores in October; 163 so far in 2007
Posted Oct 30th 2007 12:29PM by Brian White
Filed under: Good news, Wal-Mart (WMT)
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Reader Comments (Page 1 of 1)
10-30-2007 @ 12:56PM
Bernie mcfadden said...
Brian, Could you once give us walmart news without adding a negative comment? Bernie
10-30-2007 @ 4:39PM
roudy11z said...
Let Brian list the positives and negatives side by side in one of his columns concerning WMT and see how it compares? Fair and balanced?
10-30-2007 @ 10:52PM
Brockage said...
Thank the gods that somebody, here, Wal-Mart is actually creating jobs. In a world of so many American companies shrink, it's good to see somebody move ahead with jobs for more people.
10-30-2007 @ 10:56PM
Brockage said...
Next time, I'll proofread before hitting the send button! Oy.