Wal-Mart (WMT) will move clothing merchandising jobs to New York as it seeks to narrow its focus on basic clothes its customer base wants. About time…
Word from Bentonville is that a large number of workers are bring let go as the company has decided to finally put to rest its quest for “hippness”. After trying for years to one up Target (TGT) in the style department, Wal-Mart is listening to its shoppers and rather than trying to sell them clothing, it will stocks its stores with the clothing they want to buy.
This is a good move for Wal-Mart. I do not think no matter how hard they try, Wal-Mart can ever hope to become a “fashion” stop for shoppers. You know what? That is ok. Folks still need underwear, t-shirts and the like and if they know they can get those items at Wal-Mart at a great price, they will shop there.
If nothing else, Wal-Mart will now save the millions of dollars they have invested in the pursuit of fashion and can put that cash to better use.
Disclosure (“none” means no position):Long Wal-Mart, None
