Wal-Mart Stores Inc., the world’s largest retailer, raised prices on hundreds of toys this month, squeezing more out of sales during the biggest shopping period of the year.
Wal-Mart managers in the U.S. received instructions to mark up an average of 1,800 types of toys per store, according to a company e-mail dated Nov. 30 obtained by Bloomberg News. The e- mail didn’t disclose specific increases. The prices were changed “to better enable your store and the company to have a successful financial month,” according to the e-mail.
The directive from Wal-Mart, which has about 3,800 U.S. stores, told managers to do the markups as soon as possible. The move may help Chief Executive Officer Mike Duke fulfill his October prediction that sales in U.S. stores open at least a year will be positive this quarter, after six straight drops.
No wonder Mayor Bloomberg wants a Walmart to open in NYC.
He's in favor of price gouging too.
Just ask the fire victims who get charged by Bloomberg after the FDNY responds to a fire.