Wal-Mart Gets Halal Makeover

Execs admit retail giant lost its way

(NEWSER) - Walmart is suffering its worst-ever slump in US sales and is widely expected to post more disappointing figures when it reports earnings today. Analysts say the retail giant's woes are the result of its failure to follow founder Sam Walton's formula of providing ordinary Americans with "every day low prices." Instead, the chain—facing stiff competition from rivals like Target—chose to offer "rollback" discounts on some products while hiking the price of others. More»

Chain plans to open 80 temporary stores in time for holiday shopping season

(NEWSER) - Toys R Us is getting ready to go on the offensive in the battle for holiday sales, the Washington Post reports. The company—which snapped up the KB Toys and FAO Schwarz brands earlier this year—plans to open 80 temporary "Holiday Express" stores in malls across the country, and will open toy shops in 260 of its Babies R Us locations. More»

No right move on 'People of Walmart' pics of fashion misses

(NEWSER) - A wildly popular new blog mocks Wal-Mart and its customers, and encourages others to join in by uploading their own photos and comments. So what should the retail giant do? Nothing, writes BL Ochman in Advertising Age. The site—People of Walmart—isn't “likely to do lasting damage to the brand,” Ochman writes, unless the company tries to stop it. “If Walmart tries to squash the site, they'll quickly become the laughing stock of social media.” More»

(NEWSER) - A fundamental shift is going on in the consumer product world as retailers decide that less is more, the Wall Street Journal reports. Big national retailers are expected to slash selection by at least 15%, analysts say. Gone will be 30% of Kroger’s cereals, 20 of the 24 tape measures Wal-Mart sells, and so on. It’s a big curveball for manufacturers accustomed to cranking out variations on their top products. More»

Switch to cheaper goods is broadest since early '80s

(NEWSER) - As fuel prices and home foreclosures steadily rise, Americans are trading down in everything from automobiles to their lunch options. That's not unusual in an economic downturn, but the speed with which it's happening is, the Wall Street Journal reports. And the flight to the affordable and generic is affecting the broadest array of goods since the recession of the early 1980s. More»