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Commitment to low prices meets obligation to shareholders
Walmart took prices up in April, and the average gap with competitors narrowed to 16.8% from 17.8% the prior month, according to the most recent monthly survey of prices conducted in the Dallas and Chicago markets by Credit Suisse. The firm also found that Walmart has been among the most aggressive in terms of passing through inflation to customers. During the past three months, Walmart’s prices on the 60 food, health and beauty and household items the firm tracks each month increased 2% during the past three months and over the past year prices have risen by 3.6%.
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Nordstrom to close downtown Indianapolis store
Seattle — Nordstrom announced plans to close its Circle Centre store in downtown Indianapolis, Ind. Opened September 8, 1995, the 216,000-sq.-ft. location will close to the public at the end of business on July 31, 2011.
The retailer will continue to operate a nearby location at The Fashion Mall at Keystone, Ind.. It will open a Nordstrom Rack store at the Shops at Rivers Edge in September.