Wal-Mart Earnings Up, Backs ‘Main Street’ & Sustainability
Wal-Mart announced its third quarter earnings were above expectation, increasing its net income by 10 percent to $3.14 billion. The news is timed well, as the start of the most extensive shopping season of the year is right around the corner for Wal-Mart and its retail competition.
The company is optimistic about the holidays, recently showing its support for a struggling U.S. economy by backing consumer spending on “Main Street.” Calling its initiative “Operation Main Street,” Wal-Mart will specifically target the needs of American families and communities over the next seven weeks to reduce the cost of the holidays for the average customer.
Through the program, Wal-Mart hopes to save consumers over $200 million. Also included are initiatives that lend a helping hand to community organizations hit especially hard in tough economic times, like the Salvation Army.
Tied with Operation Main Street and Wal-Mart’s sustainable packaging initiative, green holiday shopping will be easier than ever at the international retailer. The program seeks to decrease packaging across Wal-Mart’s entire supply chain by five percent before 2013. Currently, over 250,000 Wal-Mart products are rated according to the sustainability of their packaging, making buying green as simple as reading the label.
