Wal-Mart Orders to Supplier Li & Fung Said to Be Normal and 2 Other Dow Movers to Watch
Wal-Mart Stores Inc. (NYSE:WMT): Current price $74.26
American orders are solid, says the world’s number-one supplier of clothes and toys to retailers Li & Fung Ltd., which has not seen any reductions from Wal-Mart. U.S. Chief Executive Bruce Rockowitz of Li & Fung observed that, “There hasn’t been any cutbacks from Wal-Mart orders. When you look across the orders that come from the United States, they are very solid for Wal-Mart.” The company’s orders from Wal-Mart comprise over 90 percent of its capacity for the year, according to Rockowitz in a Thursday emailed statement, which also indicated that the retailer is placing its orders for 2014 as normal.