Stores in Germany and South Korea were sold recently, where the company was losing money but that won't drive them out of Japan, one of its largest foreign in markets.
New stores opened at least one year are not performing as expected, growing at less then half of forecasted 4 percent sales projections. Wal-Mart's chief executive Lee Scott says they will not be satisfied with 1 percent sales and will be implementing an agressive holiday season strategy.
Pro-union groups disagree with the idea that only gas prices have effected Wal-Mart's poor sales according to this MSNBC.com article where WakeUpWalMart spokesman Chris Kofinis states, "Wal-Mart, tragically, chooses to ignore the fact that anemic store sales, declines in store traffic, a collapsing public image, worker rebellions, a failure to attract new shoppers, increased public and political anger, proves that the failures to do what is right for its employees and America has become a clear and present danger to Wal-Mart’s future growth and success.”
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