Monday, September 05, 2005

Happy Labor Day

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Update: Wal-Mart is now asking British officials to limit its major competetor there. From an L.A. Times story:

Wal-Mart Stores Inc., the retail giant infamous for crushing competitors and putting mom-and-pop retailers out of business, is now worried that its British rival might be too big.

H. Lee Scott Jr., Wal-Mart's chief executive, told a London newspaper last week that British authorities should be concerned about a retail chain having too much market clout.

Tesco, Britain's largest supermarket, has a 30% share of the food market and is expanding fast, thanks in part to an aggressive discounting program. Wal-Mart-owned Asda Group Ltd., Britain's second-largest retail chain, controls 16% of the market.

"As you get over 30% and higher, I am sure there is a point where government is compelled to intervene, particularly in the U.K., where you have the planning laws that make it difficult to compete," Scott told the Times of London, adding that "at some point, the government has to look at it."

So I guess Wal-Mart is going to divest itself of some of its stores in Canada where "its share of department store sales has risen to 52%, according to Talbot Consultants International, a Toronto-based research firm."

Why do I think this isn't going to happen?

via Kevin Drum.


Blogger The Seriously Ill said...

I fucking hate Walmart.

12:25 AM  
Blogger pansauce said...

Right there with you, pal.

12:36 AM  

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