Walmart Profit Margin

[bradman]

Yep. Walmart won. Reality check:


In other words, at the moment, final assembly of SOME products are still done in America from parts made in China.

And you can bet that the mowers sold today in Walmart aren't the quality that is detailed in the Fast Company article. But money is much more important than the pride of workmanship detailed by Weir.

Of course, Briggs and Stratton bought out Snapper, and shoved Wier and his crazy ideas out the door.

[bold] That's not quite true. Well, if it's anything like the John Deere mowers at Home Depot anyhow. The John Deere mowers at Home Depot are the same mowers that are manufactured and then sold at the dealership. Warranty too, which is done at a JD dealership. Problem is, the mowers at HD are a lower tier, cheap, mower. Go to a JD dealership and they can sell you the same mower at a price comparable to HD.
Here's the rub. Purchase that mower at a dealership and they will tell you straight up, it's a cheap model made of thinner gauge steel. It will not last as long as the next tier, the premium models. You will eventually be spending more in repairs with the cheap models.
Now go to Home Depot and have them admit as much. Good luck with that.

[Bludogdem]

Walmart is a convenient catch all to blame. The reality is they weren’t responsible for the onslaught foreign suppliers. Long before Walmart went there the discount community had discovered cheap foreign suppliers. Kmart, Target, Zarye, Woolco, Grants, Topps, Hills, Robert Hall, Ames(and the list goes on) were working with suppliers out of South Korea, Taiwan, Singapore, Hong Kong, India, Sri Lanka(and the list goes on) from the early 70’s. The collapse of the garment manufacturing industry opened up South America. From the mid 70’s to the early 80’s I was developing fully integrated, online, real time, data base management systems for the retail trade. I was fully immersed. I could see it all. Walmart was barely a blip. Then in 1978 China opened up for business. The name of the retail game was imported goods. Long before Walmart was of consequence.

[carmenjonze]

Walmart Inc https://g.co/kgs/iRfoMz

Walmart's profit margin is only 2.33pct.
Which is 2.33 cents on the dollar.

It isnt like they are a ATM machine that has endless profit to spend. They work on very small margins and have to watch every penny

Don't you guys care about anything besides munny and exploiting others?

[Drak]

Don't you guys care about anything besides munny and exploiting others?

Under an authoritarian regime money will be harder to come by for most via The American Dream. Oligarchs and mobsters get the money.

[gounion]

Walmart is a convenient catch all to blame. The reality is they weren’t responsible for the onslaught foreign suppliers. Long before Walmart went there the discount community had discovered cheap foreign suppliers. Kmart, Target, Zarye, Woolco, Grants, Topps, Hills, Robert Hall, Ames(and the list goes on) were working with suppliers out of South Korea, Taiwan, Singapore, Hong Kong, India, Sri Lanka(and the list goes on) from the early 70’s. The collapse of the garment manufacturing industry opened up South America. From the mid 70’s to the early 80’s I was developing fully integrated, online, real time, data base management systems for the retail trade. I was fully immersed. I could see it all. Walmart was barely a blip. Then in 1978 China opened up for business. The name of the retail game was imported goods. Long before Walmart was of consequence.

The TRUTH is Walmart put it into hyperdrive because of their size and demands, as pointed out in the article I posted, and the movie that ProfX posted. Most discount stores accepted the prices they negotiated with the suppliers, not demanding they shut down American factories and move them overseas. Yes, it was a bad lot, but by FAR Walmart was the very worst.

But go ahead, defend them and their actions that hurt tens of thousands of American workers who lost their jobs as Walmart

[Glennfs]

Don't you guys care about anything besides munny and exploiting others?

You have made that reference about munny many times.
I have no clue about your personal finances or how you put a roof over your head and food on your table.
But as far as I am concerned people can work more or want less.
Nobody is forced to shop at or work for Walmart. However in their defense Walmart's wages are very competitive and their truck drivers start out at over 90k a year.
Imo the reason progressives are anti Walmart is because they are owned by a conservative Christian family.
Walmart forced no company to move overseas or out of the USA. Those companies took advantage of the situation.

Who forced Ford or GM to move. Who forced Boeing to make components in other countries. Who forced industry's like solar and wind or micro processors, chips etc to move.

Walmart simply reinvented retail and became one of our country's largest employers.

Someday another company will come along with innovations that replaces Walmart.

If Walmart were owned by and contributed to progressives not one Democrat would say a bad word about them.

[gounion]

You have made that reference about munny many times.
I have no clue about your personal finances or how you put a roof over your head and food on your table.
But as far as I am concerned people can work more or want less.
Nobody is forced to shop at or work for Walmart. However in their defense Walmart's wages are very competitive and their truck drivers start out at over 90k a year.
Imo the reason progressives are anti Walmart is because they are owned by a conservative Christian family.
Walmart forced no company to move overseas or out of the USA. Those companies took advantage of the situation.

Who forced Ford or GM to move. Who forced Boeing to make components in other countries. Who forced industry's like solar and wind or micro processors, chips etc to move.

Walmart simply reinvented retail and became one of our country's largest employers.

Someday another company will come along with innovations that replaces Walmart.

If Walmart were owned by and contributed to progressives not one Democrat would say a bad word about them.

Yep, Walmart made China our nation's factory. And you LOOOOOVE Walmart and spent years on this board taunting us with your worship of the company. You LOVE buying Chinese-made goods.

And it's conservatives that tells us that free trade is wonderful for everyone. My union fought NAFTA from the beginning, and everything we said would happen came to pass.

[Glennfs]

Yep, Walmart made China our nation's factory. And you LOOOOOVE Walmart and spent years on this board taunting us with your worship of the company. You LOVE buying Chinese-made goods.

And it's conservatives that tells us that free trade is wonderful for everyone. My union fought NAFTA from the beginning, and everything we said would happen came to pass.

Walmart did none of that. As for NAFTA I have never met even one person who was in favor of it......then or now.
I guess had President Obama been able to get the gold standard of trade deals passed things would be better
Let's not forget there was one person who could have stopped NAFTA but he signed it into law

[gounion]

Walmart did none of that. As for NAFTA I have never met even one person who was in favor of it......then or now.
I guess had President Obama been able to get the gold standard of trade deals passed things would be better

Walmart did. It's well-documented.

And wait - why did Obama try to do trade deals? I thought he was the far-left Senator ever to run for President?

[ProfX]

I don't give a crap the religious, political, ideological, or aesthetic affiliations of the founding family.

No, these are my problems.

https://en.wikipedia.org/wiki/Criticism_of_Walmart

The American multinational retail chain Walmart has been criticized by many groups and individuals, such as labor unions and small-town advocates, for its policies and business practices, and their effects. Criticisms include charges of racial and gender discrimination,[1][2][3] foreign product sourcing, anti-competitive practices, treatment of product suppliers, environmental practices,[4] the use of public subsidies, and its surveillance of its employees.

[snip]

Critics say that Walmart's lower prices draw customers away from smaller Main Street businesses, hurting local small-town communities, and that the company hurts the United States economy by relying excessively on Chinese-produced products – Walmart is the largest importer in the United States in many categories, such as electronics and fast-moving consumer goods.[12][13]

[snip]

-- negative impacts on local communities
-- predatory pricing and supplier "squeezing" issues
-- labor practices, including understaffing
-- they have more surveillance on employees and customers, but none in their parking lots ...

The last part of this Wikipedia article deals with why they failed to build an entire Wal-Mart "community" in Midtown Miami. I know that whole story quite personally, I watched the effort to fight it build ... and succeed.

[Glennfs]

I don't give a crap the religious, political, ideological, or aesthetic affiliations of the founding family.

No, these are my problems.

https://en.wikipedia.org/wiki/Criticism_of_Walmart

The American multinational retail chain Walmart has been criticized by many groups and individuals, such as labor unions and small-town advocates, for its policies and business practices, and their effects. Criticisms include charges of racial and gender discrimination,[1][2][3] foreign product sourcing, anti-competitive practices, treatment of product suppliers, environmental practices,[4] the use of public subsidies, and its surveillance of its employees.

[snip]

Critics say that Walmart's lower prices draw customers away from smaller Main Street businesses, hurting local small-town communities, and that the company hurts the United States economy by relying excessively on Chinese-produced products – Walmart is the largest importer in the United States in many categories, such as electronics and fast-moving consumer goods.[12][13]

[snip]

-- negative impacts on local communities
-- predatory pricing and supplier "squeezing" issues
-- labor practices, including understaffing
-- they have more surveillance on employees and customers, but none in their parking lots ...

The last part of this Wikipedia article deals with why they failed to build an entire Wal-Mart "community" in Midtown Miami. I know that whole story quite personally, I watched the effort to fight it build ... and succeed.

Very true but those mom and pop's created no jobs and all the nostalgia surrounding them nonsense.
Next time you drive by a super Walmart count all the other businesses within a half mile to and fro.
Then realize without Walmart none of those jobs or economic activity would exist.

Did Piggly Wiggly cause all the bakeries and butchers shops and dry goods stores to close.
Probably are we better off for it definitely

[gounion]

Very true but those mom and pop's created no jobs and all the nostalgia surrounding them nonsense.
Next time you drive by a super Walmart count all the other businesses within a half mile to and fro.
Then realize without Walmart none of those jobs or economic activity would exist.

Did Piggly Wiggly cause all the bakeries and butchers shops and dry goods stores to close.
Probably are we better off for it definitely

Then the right - and Joe Memphis - who LOVES to bandy about the canard - that you guys aren't fighting for the corporations, noooo, you're fighting for the Mom and Pops of the country, the people who invested their money and lives into their business.

Boy, I'm going to bookmark this post, and save it and throw it into Joe's face every time he trots out that bullshit.

Yep, the right is only about the huge multinational corporations. They make life wonderful for all of us!

[Bludogdem]

“ Walmart imports 26% of its merchandise from China, UBS’ Lasser estimated, while Target imports 34% of its products from China. Other companies, including sporting goods, auto parts and furniture sellers, have even greater exposure to China. Dick’s Sporting Goods (DKS), for example, imports 51% of its merchandise from China, while Bed Bath & Beyond (BBBY) imports 53% of its goods from China, according to Lasser.”

https://www.cnn.com/2019/05/23/business ... index.html

[gounion]

“ Walmart imports 26% of its merchandise from China, UBS’ Lasser estimated, while Target imports 34% of its products from China. Other companies, including sporting goods, auto parts and furniture sellers, have even greater exposure to China. Dick’s Sporting Goods (DKS), for example, imports 51% of its merchandise from China, while Bed Bath & Beyond (BBBY) imports 53% of its goods from China, according to Lasser.”

https://www.cnn.com/2019/05/23/business ... index.html

Hilarious! Of course, they import from probably over 100 countries. All over the third world.

[Bludogdem]

Very true but those mom and pop's created no jobs and all the nostalgia surrounding them nonsense.
Next time you drive by a super Walmart count all the other businesses within a half mile to and fro.
Then realize without Walmart none of those jobs or economic activity would exist.

Did Piggly Wiggly cause all the bakeries and butchers shops and dry goods stores to close.
Probably are we better off for it definitely

There’s a brownfield site in the area that was cleaned rather nicely and turned over to the local community. It’s a small community which has had infrastructure issues. The communities leadership lacked the knowledge and experience necessary to handle the site. A friend who is a real estate lawyer and heads a REIT got wind of the situation and volunteered to advise them on capitalizing on the property to the communities benefit. The community did not want to be involved in the development or management of the property. End result was a developer who anchored the property with a Walmart. Within 3 years both sides of the road have exploded in new commerce. And it continues with a new Jeep dealership. The community got a new office building and police and fire headquarters. Their cut of state sales tax revenues is through the roof. Property taxes revenues are way up. A flood control project has been implemented. And there’s plenty of money for infrastructure improvements.

[gounion]

There’s a brownfield site in the area that was cleaned rather nicely and turned over to the local community. It’s a small community which has had infrastructure issues. The communities leadership lacked the knowledge and experience necessary to handle the site. A friend who is a real estate lawyer and heads a REIT got wind of the situation and volunteered to advise them on capitalizing on the property to the communities benefit. The community did not want to be involved in the development or management of the property. End result was a developer who anchored the property with a Walmart. Within 3 years both sides of the road have exploded in new commerce. And it continues with a new Jeep dealership. The community got a new office building and police and fire headquarters. Their cut of state sales tax revenues is through the roof. Property taxes revenues are way up. A flood control project has been implemented. And there’s plenty of money for infrastructure improvements.

Walmarts nearly always demand the local community pay it lots of money to put a store in. Free land, build their building for them, pay to train the employees, all that.

[Bludogdem]

Walmarts nearly always demand the local community pay it lots of money to put a store in. Free land, build their building for them, pay to train the employees, all that.

The community didn’t want to own the land. They want and receive the property taxes. They want and receive their cut of state sales taxes. Jobs for people in the community. They want and receive the communities income tax. The community is growing nicely.

Didn’t cost the community a penny. Developer created competition for the site.

[Bludogdem]

Does Walmart Own Their Buildings In 2022?

Walmart owns over 4,700 of its 5,500-plus locations in the United States and nearly 6,700 of its almost 12,000 locations around the world. Additionally, Walmart owns and operates a real estate branch of its company, Walmart Realty, which serves as its own in-house real estate firm and handles all of its properties’ acquisitions and maintenance.

https://querysprout.com/does-walmart-ow ... buildings/

[ProfX]

Walmart and McDonald’s are among top employers of Medicaid and food stamp beneficiaries, report says
https://www.cnbc.com/2020/11/19/walmart ... aries.html

Walmart and McDonald’s are among the top employers of beneficiaries of federal aid programs like Medicaid and food stamps (SNAP), according to a study by the nonpartisan Government Accountability Office released Wednesday.

[snip][end]

[bird]

Very true but those mom and pop's created no jobs and all the nostalgia surrounding them nonsense.
Next time you drive by a super Walmart count all the other businesses within a half mile to and fro.
Then realize without Walmart none of those jobs or economic activity would exist.

Did Piggly Wiggly cause all the bakeries and butchers shops and dry goods stores to close.
Probably are we better off for it definitely

Sigh. Once again you don’t know what you are talking about.

https://slate.com/culture/2017/02/brian ... iewed.html

I also suggest his book The Hospital: Life, Death and Dollars in a Small American Town.

Consolidation destroys. This is not about China arbitrarily. It is about control. Control of supply, distribution and access. It is about race-to-the-bottom manipulation of small town politicians by large scale companies. There is so much more going on that is actually vary rarely talked about. But that is for another thread.

[gounion]

Does Walmart Own Their Buildings In 2022?

Walmart owns over 4,700 of its 5,500-plus locations in the United States and nearly 6,700 of its almost 12,000 locations around the world. Additionally, Walmart owns and operates a real estate branch of its company, Walmart Realty, which serves as its own in-house real estate firm and handles all of its properties’ acquisitions and maintenance.

https://querysprout.com/does-walmart-ow ... buildings/

Well, of COURSE they own them. They demand the government GIVE it to them. Reality check:

A secret behind Wal-Mart’s rapid expansion in the United States has been its extensive use of public money. This includes more than $1.2 billion in tax breaks, free land, infrastructure assistance, low-cost financing and outright grants from state and local governments around the country. In addition, taxpayers indirectly subsidize the company by paying the healthcare costs of Wal-Mart employees who don’t receive coverage on the job and instead turn to public programs such as Medicaid. This website brings together available information on both kinds of subsidies involved in Wal-Mart’s “double-dipping.” In the future we will add data on other ways Wal-Mart relies on taxpayers to finance its growth.

[gounion]

Sigh. Once again you don’t know what you are talking about.

https://slate.com/culture/2017/02/brian ... iewed.html

I also suggest his book The Hospital: Life, Death and Dollars in a Small American Town.

Consolidation destroys. This is not about China arbitrarily. It is about control. Control of supply, distribution and access. It is about race-to-the-bottom manipulation of small town politicians by large scale companies. There is so much more going on that is actually vary rarely talked about. But that is for another thread.

Folks like Joe Memphis and Glenn believe that the rich corporate overlords are destined to rule. Glenn cheers for the mom and pops getting destroyed the same way that Rockefeller ate up or destroyed all of his competition.

[bradman]

Sigh. Once again you don’t know what you are talking about.

https://slate.com/culture/2017/02/brian ... iewed.html

I also suggest his book The Hospital: Life, Death and Dollars in a Small American Town.

Consolidation destroys. This is not about China arbitrarily. It is about control. Control of supply, distribution and access. It is about race-to-the-bottom manipulation of small town politicians by large scale companies. There is so much more going on that is actually vary rarely talked about. But that is for another thread.

Here's a perfect example of what goes on when a city/county finds itself in the middle of a corporate welfare battle......

https://cdispatch.com/news/2016-10-05/a ... ery-store/
Aldermen deny TIF requests for Wal-Mart grocery store

The developer, Wal-Mart Stores East LP, sought a $1.35 million TIF pledge to construct an access road from Highway 12 to the proposed development site in east Starkville and signalize the intersection. But four aldermen — Ward 3’s David Little, Ward 4’s Jason Walker, Ward 6’s Roy A. Perkins and Ward 7’s Henry Vaughn — blocked the original request, as well as a $675,000 compromise presented by Ward 5 Alderman Scott Maynard.

+

Oktibbeha County supervisors approved their portion of the TIF request Monday, which would divert 50 percent of county ad valorem receipts toward debt service for 15 years. The $1.35 million request aldermen denied would have pledged 100 percent of city property taxes and 50 percent of sales taxes, while Maynard’s $675,000 counteroffer committed the same amount of property taxes but only 25 percent of sales taxes.

Many of the TIF opponents, including Little and Vaughn, said they were first supportive of the project, but acknowledged receiving comments from residents opposed to the subsidy.

Little noted Kroger’s recent expansion, saying the company created one of Mississippi’s largest stores without asking for a taxpayer handout. While TIFs have been utilized to create new sales — the Parker-McGill auto dealership, for example — Little said he is worried the new grocery store would create transfer sales from existing stores, including Kroger, Vowell’s Marketplace and Starkville’s existing Wal-Mart.

Reading from a prepared statement, Perkins said the TIF proposal appeared “to continue the practice of preferential treatment given to big developments at the expense of small and existing businesses.”

Note: i've never been against T.I.F. funding. i have always been against not using T.I.F. funding properly. It's a fine balance and in this case i'd be voting with the 4 Alderman.

btw.. nice to read ya again.

[gounion]

Brad, I've told the story often here about being the last customer at an Italian restaurant/pizza shop, a place the son was running, his dad started it. It was a local staple for decades. But then the local government was doling out money to the big chains to come in, giving them land, money to pay workers, and tax-free status. of course, he never got any deals from the government - his taxes just kept going up. So the city fathers used HIS tax money to drive HIM out of business.

That's the GOP way.

[bradman]

Brad, I've told the story often here about being the last customer at an Italian restaurant/pizza shop, a place the son was running, his dad started it. It was a local staple for decades. But then the local government was doling out money to the big chains to come in, giving them land, money to pay workers, and tax-free status. of course, he never got any deals from the government - his taxes just kept going up. So the city fathers used HIS tax money to drive HIM out of business.

That's the GOP way.

His son should have had the option.

When you open a T.I.F. district it should benefit all the tax payers within that district. (the whole city for that matter) That's up to the City Planners who are appointed by those we vote in. In our city the home grown businesses are given the same opportunity to upgrade using the same funds as the anchor business we are trying to attract. The trick is to make sure the anchor business you are trying to attract enhances established businesses. Something new, not something you already have. Luckily, we have been able to keep most of our home grown businesses and help aid them expand and upgrade. Unfortunately, some refused to give the 21st century a try. A few of them had to close their doors. It's the difference between shoeing horses and mounting tires.