Wal-Mart cut down the price of a top brand name—the 42-in. Panasonic high-definition TV—by $500, to $1,294. Wal-Mart’s low prices policy has caused many electronic stores to suffer. In fact, Circuit City after closing down 70 stores, they laid off 3,400 employees and put its 800 Canadian stores on the block on March 28. ff 3,400 employees and put its 800 Canadian stores on the block. Tweeter Home Entertainment Group is closing 49 of its 153 stores and dismissed 650 workers and Dallas-based CompUSA is closing 126 of its 229 stores.
Is it good PR for Wal-Mart? Of course, it is. But, how about the other businesses?
I believe that Wal-Mart is giving other businesses more causes to hate the giant retailers and to seek its destruction.
What do you think?
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