Consumer Stock Wrap: Wal-Mart’s India Game, Best Buy GASHES Geek Squad
Wal-Mart (NYSE:WMT) finds itself between a rock and a hard place, as it is embedded in a power and politics game in India. Populists declare that ‘mom and pop’ shops are under threat by the retailing behemoth, and so the pols restrict such giants’ full entries into the retail markets, while at the same time it’s billionaires in the country whose interests are being threatened by WMT, as they open new outlets and expand their own conglomerates.
US Airways (NYSE:LCC) has allegedly violated a dozen regulations of the Transportation Department, and thus faces almost $400,000 in fines.
Coca-Cola’s (NYSE:KO) latest strategy of moving into dairy markets worldwide, might encounter difficulties in Mexico if regulators there fail to okay the Coke property Jugos del Valle’s deal to obtain control of a dairy farm. The U.S. debut of a dairy Coke product will occur later in July when its protein shake Core Power becomes available.
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Is this really a good move, PR-wise? Best Buy (NYSE:BBY) earlier on Friday confirmed that it’s laying off Geek Squad employees only, across the U.S., even though its on-site repair service will continue in a different format. Then later the company announced that it’s laying off 2,400 workers, which is 1.4 percent of its workforce; 600 will be from the Geek Squad, and 1,800 from store staff.
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