Wal-Mart puts the squeeze on food costs

Courtesy CNN Money  Thu, 05/29/2008 - 3:27am

With gas, grain, and dairy prices exploding, you'd think the biggest seller of corn flakes and Cocoa Puffs would be getting hit by rising food costs.

But Wal-Mart has temporarily rolled back prices on hundreds of food items by as much as 30% this year. How?

By pressuring vendors to take costs out of the supply chain.



 

More related items

Big smile at Wal-Mart
Wal-Mart Stores Inc. trounced analyst expectations Thursday with a 5.8% jump in June sales for stores open at least one year, attributing the...

World's 25 biggest companies
Once again, Wal-Mart grabs the number one spot. See which other companies are the largest on the planet.

Stocks gain in early trade
A big drop in weekly jobless claims and surprisingly strong May sales from Wal-Mart Stores were among the main factors lifting stocks Thursday...

Wal-Mart sales stimulated in May
Wal-Mart Stores, the leading U.S. retailer, reported a jump in May sales Thursday that beat analyst expectations, crediting the U.S. government's...

UN warns about higher food costs
Expect higher food prices and volatile commodity markets, says a report by the UN's food organisation.


 

Post new comment

The content of this field is kept private and will not be shown publicly.