Has anyone told Sam?

New York — "The misconception is that we're in the retail business," said Jay Fitzsimmons, senior vp and treasurer of Wal-Mart. But in reality, "we're in the distribution business."

Speaking at noontime today to investors at Merrill Lynch's Global Retailing Leaders Conference, Fitzsimmons added that Wal-Mart's goal is to move products through the pipeline to the customer's trunk in as little as 72 hours. Its distribution network of 100 centers nationwide, including facilities for the Web site and returns, provide efficiencies for the retailer.

"Most people say we buy at the lowest price and sell it at the lowest price," but that's not always true, he said. More accurately, Wal-Mart can sell it at the lowest price because it has the lowest distribution costs.

Featured Video

  • Live From New York: Fashion Comes Across the Pond

    Camera Icon More Videos

Subscribe to
Home & Textiles Today eDaily
Receive the news you need to know about the trends in the industry delivered right to your inbox.

CURRENT ISSUE

HTT Cover October 2017

See the October 2017 issue of Home & Textiles Today. In this issue, we look at the Top 25 Online Retailers.  H&TT's exclusive annual ranking of the biggest online sellers of home textiles finds that while pure play etailers continue to fly, bricks & clicks are digging into omnichannel. See details!