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Wal-Mart cuts hours amidst wage pressures

Wages have been going up at Wal-Mart (NYSE: WMT), but the global retail giant has been cutting workers' hours to trim labor costs. "Managing hours is a routine part of running a sustainable operation, and in select number of stores, it requires keeping those hours to what was originally budgeted," Wal-Mart spokesman Kory Lundberg told CNBC on Monday. Lunberg spoke after Bloomberg News reported ...
Source: CNBC.com | By: Anita Balakrishnan
Walmart pulls assault rifles  

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Source: CNBC.com
Apple enters bear territory; tech stocks crushed

Shares of Apple (NASDAQ: AAPL) entered bear market territory Friday, dropping more than 21 percent from their April 28 high of $134.54. After shares plummeted almost 6 percent to close at $106 for the day, Apple joined nine other Dow components already in bear market territory: Proctor & Gamble (NYSE: PG), IBM (NYSE: IBM), Exxon (NYSE: XOM), Intel (NASDAQ: INTC), Walmart (NYSE: WMT), ...
Source: CNBC.com | By: CNBC.com staff
Hot dogs out, salads in at these Target cafes

For Target (NYSE: TGT) customers in 14 test stores, there'll be no more munching on big-box staples like hot dogs and gooey nachos while they shop this fall. Instead, they'll be able to choose from a wider array items, including "artisan style" pizza, fresh salads with ingredients such as kale and edamame, and pressed juices with beet and carrot. Starting in October the company will roll out a ...
Source: USA Today | By: Hadley Malcolm
Cowen's top retail pick  

Media Link Transcript It's about but expect mark payless kind of sovereign and so it's really getting new units and all these categories and they're going exactly what they stated. So taking more risk in these categories focusing on product innovation and and giving the customer what they want at a at a good price and that's really what drove the com. So the comp was exciting us 2.4. One point ...
Source: CNBC.com
Is Wal-Mart just the first victim of rising wages?

Wal-Mart (NYSE: WMT) beat revenue estimates but missed on earnings, in a report that sent shares sliding and led to fresh questions about the company's wage boosts. Wal-Mart said Tuesday its operating margin slid to 5.1 percent in the most recent quarter, down from 5.6 percent a year ago. The company said that issues in its pharmacy business and "shrinkage" (stealing plus spoilage) plus ...
Source: CNBC.com | By: Alex Rosenberg
Sticky fingers, higher wages add to Wal-Mart's woes

Attention, Wal-Mart (NYSE: WMT) investors: You'd better saddle up for a bumpy ride. Shares of the world's largest retailer extended their year-to-date losses when they fell 3 percent on Tuesday, after the company reported weaker-than-expected second-quarter earnings and slashed its full-year outlook . This marked the second straight quarter when Wal-Mart's profit fell short of expectations, as ...
Source: CNBC.com | By: Krystina Gustafson
UPDATE 2-British supermarket chain Asda hits sales 'nadir'

(Adds analyst, background) LONDON, Aug 18 (Reuters) - Wal-Mart's British supermarket chain Asda slumped to its worst quarterly sales performance in the 16 years it has been owned by the U.S. group, with results on Tuesday highlighting its struggles in the face of an onslaught from the discounters. Asda and rivals Sainsbury's, Morrisons and market leader Tesco are losing ground in a fierce ...
Source: Reuters | By: James Davey
Wal-Mart earnings: 3 key things to watch

While big name tech companies have largely finished reporting results for the quarter, there are still plenty of exciting earnings to come. This week, retail takes center stage as names like Home Depot (NYSE: HD), Staples (NASDAQ: SPLS) and Target (NYSE: TGT) all get set to give results. One name that will be closely watched is Wal-Mart (NYSE: WMT), the retail behemoth which has seen its stock ...
Source: CNBC.com | By: Michael Newberg
Amazon pushes 'purposeful Darwinism' on workers

SEATTLE - On Monday mornings, fresh recruits line up for an orientation intended to catapult them into Amazon's singular way of working. They are told to forget the "poor habits" they learned at previous jobs, one employee recalled. When they "hit the wall" from the unrelenting pace, there is only one solution: "Climb the wall," others reported. To be the best Amazonians they can be, they ...
Source: The New York Times | By: Jodi Kantor and David Streitfeld