Wal-Mart Stores, Inc. (NYSE: WMT) will soon be employing a new method to track gun sales in its stores. As part of a new measure in concert with the "Mayors Against Illegal Guns" group, Wal-Mart's chief compliance officer J.P. Suarez went to D.C. with New York City Mayor Michael Bloomberg to explain details on a new "10-point code" that will apparently thwart weapons from Wal-Mart from falling into criminal hands.Wal-Mart will soon be video recording gun sales in its stores and then archiving the footage as part of being included in the "Responsible Firearms Retailer Partnership." In addition, the world's largest retailer will create a computer system to notify the company of a gun purchased in one of its stores is indeed used in a crime. If workers think they can get at guns from the inside, Wal-Mart will now perform screening and background checks on employees that will be handling and selling firearms in its stores.
The National Rifle Association said that these moves wouldn't do a thing to reduce crime, calling out Bloomberg from his "bully pulpit". Will videotaping gun purchases lead to any less crimes being committed, or is this a PR move by the retailer? Hard to say, but Wal-Mart did indicate that it hopes "other retailers will join us in adopting the code."
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