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See what happens when Walmart enters the market
Now that Walmart has completed its acquisition of a majority stake in South African retailer Massmart a major competitor contends it will need to lay off 8.6% of its work force to improve its competitive position.
That’s according to South African media reports indicating rival Pick n Pay Stores said it was looking to eliminate 3,137 of its 36,673 positions. Conversely, Walmart has said it will create 15,000 jobs in South Africa within five years, implying a fairly robust level of expansion.
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BTS season gets underway with favorable outlook
Stronger-than-expected sales from a number of retailers in June is adding credence to a recent forecast that this year’s back-to-dchool season could be the strongest in the past five years, which is good news for Walmart as it looks for a strong ending to its second quarter.
Shoppers continue to face a lot of economic headwinds this back-to-school season, but one forecaster has seasonal sales growing by 6.2% to $467 billion, the most since 2006.