Bargain To Be Had In Wal-Mart Shares

Posted on Friday, March 30 at 10:26 by jensonj
The Bentonville, Ark.-based retailer, which posts annual sales of nearly $350-billion, has been expanding in regions like Mexico, Latin America and also Canada, where it will open 21 more Supercentre stores this year. "There are reasons to be optimistic" judging by their U.S. initiatives, Sarah Henry, an analyst with MFC Global Investment Management, said in an interview. Wal-Mart is cutting costs by keeping inventory low, and is now trying to drive more traffic to its stores by selling many generic drugs for $4, said Ms. Henry, who bought 200,000 Wal-Mart shares over the past six months for the Sovereign Investors Fund. The retailer has also embarked on a public relations campaign to counter attacks in the press from politicians who want to keep Wal-Mart out of their community to protect local shopkeepers, and union leaders critical of their low-wage model, Ms. Henry added. "In the past, they have ignored that sort of thing. "But they need the goodwill to enable them to open stores. . . . The new goal is to open in urban areas." http://www.theglobeandmail.com/servlet/story/LAC.20070328.REDGE28/TPStory/Business

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