Does this PR campaign by Wal-Mart to "Straighten the Record, and Get the Truth Out There" strike anyone else as surreal — Or is it just me?
This is the largest retailer in the world, with over a million employees and a 1/4 trillion dollars in annual sales. Their CFO was the Guest Host on Squawkbox; The company took out full page ads in 100 newspapers. The wounded giant act comes across more like proaganda than a "record correcting" mission.
As far as Investors are concerned, there are some very legitimate issues worth addressing. Some states, like California and Vermont, are none-too-thrilled to be part of the ongoing Wal-martization of America — cheap imported goods, displacement of small communities, labor issues, loss of manufacturing / clothing jobs, traffic, noise etc. These issues might be suggesting that the easy part of Wal-Mart’s national expansion is likely in the 9th inning.
In light of that, the wounded goliath act comes across as rather disengenous PR ploy.
Disclosure: I’m more of a Target shopper than Wal-Mart — so thats my bias.