Home Textiles comes up with a great quote from Jay Fitzsimmons, senior vp and treasurer of Wal-Mart.
“The misconception is that we're in the retail business," he said to an investor conference. “We're in the distribution business.”
Furthermore, Fitzsimmons added, while it is generally believed that Wal-Mart buys and sells at the lowest price, in fact Wal-Mart sells at the lowest price because it has the lowest distribution costs.
“The misconception is that we're in the retail business," he said to an investor conference. “We're in the distribution business.”
Furthermore, Fitzsimmons added, while it is generally believed that Wal-Mart buys and sells at the lowest price, in fact Wal-Mart sells at the lowest price because it has the lowest distribution costs.
- KC's View:
-
Go figure. Wal-Mart isn’t in the retail business.
Everybody else now has permission to breathe easier.
