Boston, MA 07/12/2013 (wallstreetpr) - The shares of Wal-Mart Stores, Inc. (NYSE:WMT) ascended to close at $77.63 in trading session of Thursday, July 11. This closing number demonstrates increase in the stock price by 1.12%. After opening at $77.45, the stock exhibited an intraday high of $77.75. With average volume of 7.43 million shares in last 90 trading sessions.
Wal-Mart Stores, Inc. (NYSE:WMT) carries out its operations in retail stores in several different formats worldwide. The pricing strategy of the Company is Everyday low prices (EDLP). Under this pricing philosophy, the Company pries the products at a low price every day The Company conducts operation in three segments of business that includes the Walmart International segment, the Walmart U.S. segment, and the Sam’s Club segment.
Wal-Mart Stores, Inc. (NYSE:WMT) stated that it will not construct the planned three stores in the District of Columbia in case there is approval by the lawmakers on the bill which will enforce a minimum payment of $12.50 an hour by the retailer to the employees.
This bill is supported by the advocates of workers and unions. They are of the opinion that big-box stores’ staff must receive a “living wage.” This would apply to all the stores that conduct business in space of 75,000 feet or more.
As of now, there has been no official announcement by the Wal-Mart Stores, Inc. (NYSE:WMT)’s representatives regarding plans of placing a store in the Olde Sawmill Square Shopping Center. However, last week, a Westerville man, stated that he discovered certain documents at the office of Franklin County Recorder that demonstrates the procurement of the site’s property. This man carries out business from his house offering business leads in central Ohio. As per Lance Conkling of Metro Business Lists, the procurement cost, on basis of a tax formula bound with a documents, was $4 million,