Accounting Presentation Speech Wal-Mart: Expanding Thesis

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Target was seen as the more stylish of the two retailers, and although Wal-Mart was still the world's biggest retailer, its market share was shrinking. "From 2003 to 2007, Target's annual same-store sales growth averaged 4.6%, while Wal-Mart's clocked in at 2.9%. Over the same period, Target's annual profit growth averaged 16%, while Wal-Mart lagged behind at 10.3%." (Gregory 2009). In response to the threat of Target, Wal-Mart was striving to go upscale, making encroachments into the organic food market and luxury goods. In 2005, "at a 203,000-square-foot test store in Plano, Texas, an upscale suburb of Dallas" Wal-Mart was "showcasing expensive jewelry, $500 bottles of wine, plasma TV sets and other expensive items" to compete with Target's affordable and edgy style of chic (Van Riper 2006).

But although Wal-Mart never commanded the organic, clothing, and home and beauty product glamour of Target, its fortunes have improved.

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While "Target's profits last year dropped a stunning 22.3%, to $2.2 billion. Wal-Mart's 2008 bottom line rose 5.9%, to $13.5 billion" (Gregory 2009). This is largely attributed to the fact that "Target devotes some 40% of its shelf space to home and apparel items, which are struggling, while setting aside less than 20% for consumables like food, health items and beauty products. Wal-Mart sets aside 45% of its space for consumables" (Gregory 2009). In the words of one consumer: "Wal-Mart sells what you need to have…as opposed to what you want to have" (Gregory 2009). Wal-Mart purchases are, by and large, not impulse buys, and consumers that once bought their groceries at Whole Foods or Costco are now shopping at Wal-Mart, and Gap shoppers are buying their children's clothes at the mega-retailer -- if.....

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