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Wal-Mart, seeking to drive customer traffic, enters the money transfer business with a bang

NEW YORK, N.Y. - Wal-Mart is delving deeper into financial services at its stores and shaking up the money transfer business. The world's largest retailer introduced a new money transfer service Thursday that it says will cut fees for its low-income customers by up to 50 per cent compared with similar services elsewhere. The Walmart-2-Walmart service is being rolled out in partnership with Ria Money Transfer, a subsidiary of Euronet Worldwide Inc. Shares of money-transfer companies MoneyGram and Western Union slid Thursday.

Wal-Mart to open 50 more wholesale outlets in India after splitting from Indian partner

NEW YORK, N.Y. - Wal-Mart Stores Inc. says it will open 50 more wholesale stores in India over the next four to five years, adding to the current total of 20 in the country. These stores, known as cash-and-carry outlets, cater to retailers, rather than to individuals. Wal-Mart also said Tuesday it plans to launch an online operation for cash-and-carry customers in India.

NYC parish wants Wal-Mart shareholder vote on board oversight of policies regarding gun sales

WILMINGTON, Del. - Attorneys for a church in Manhattan are asking a federal judge in Delaware to prohibit Wal-Mart from sending its annual proxy statement to shareholders because it doesn't include its proposal for a shareholder vote involving gun sales. The Episcopal parish that includes Trinity Church on Wall Street wants shareholders to vote on whether the board of Wal-Mart Stores Inc. should oversee management policy decisions on whether to sell products considered especially dangerous, harmful to Wal-Mart's reputation, or offensive to community and family values.

Wal-Mart sues Visa for $5 billion over card swipe fees

By Phil Wahba (Reuters) - Wal-Mart Stores Inc this week sued Visa Inc for $5 billion, accusing the credit and debit card network of excessively high card swipe fees, several months after the retailer opted out of a class action settlement between merchants and Visa and MasterCard Inc. Visa declined to comment on the suit, filed Tuesday in the U.S. District Court for the Western District of Arkansas, where Wal-Mart is headquartered.

Wal-Mart recalling 174,000 baby dolls that can overheat and burn consumers

WASHINGTON - Wal-Mart Stores Inc. is recalling 174,000 dolls because the toy can overheat and potentially burn consumers. The U.S. Consumer Product Safety Commission said Tuesday that the "My Sweet Love / My Sweet Baby Cuddle Care Baby Doll" has a circuit board in its chest that can overheat, causing the surface of the doll to get hot and burn someone. Wal-Mart has received 12 reports of incidents, including two burns or blisters to the thumb. Consumers should stop using the product, remove the batteries and return them to any Wal-Mart store for a refund.

Wal-Mart kicks off spring with biggest sale ever on outdoor items

NEW YORK, N.Y. - Wal-Mart is hoping the same storms that kept shoppers away in the winter, will bring them into stores in the spring. Starting Friday, Wal-Mart is having a weeklong sale of up to 50 per cent on more than 60 outdoor items, including lawn mowers and bags of mulch. The world's largest retailer said the move, which pits it against home-improvement rivals Home Depot and Lowe's, is aimed at luring shoppers who are looking to restore patios and gardens that were battered by severe winter weather.

Wal-Mart kicks off spring with biggest sale ever on outdoor items

NEW YORK, N.Y. - Wal-Mart Stores Inc. is hoping to shake off the winter sales doldrums with its biggest spring sales push ever. The company is discounting more than 60 outdoor essentials from lawn mowers to mulch by 30 per cent to 50 per cent. The sale starts Friday and will run through March 29. Wal-Mart says the event was planned last summer as executives received forecasts that the winter was going to be especially harsh. But the company made changes since then because the winter was even more severe than expected.

Wal-Mart offers disappointing outlook as it reports 21 pct drop in 4Q profit

NEW YORK, N.Y. - Much like its low-income shoppers, Wal-Mart can't seem to catch a break as the U.S. economy rebounds. The world's largest retailer on Thursday posted a 21 per cent drop in fourth quarter profit and gave a subdued forecast for the current year as it continues to be weighed down by a number of factors.

Wal-Mart: 4Q, full-year profits may now be at or slightly below low end of prior outlooks

BENTONVILLE, Ark. - Wal-Mart said Friday that key earnings figures may come in at the low end or below its prior forecasts for its fourth quarter and full fiscal year. It also said a widely-watched sales metric for the fourth quarter which includes the holiday season will be lower than its previous forecast. The news initially sent Wal-Mart shares lower but they were up by early afternoon.

Wal-Mart cuts outlook due to store closings, Sam's Club weakness

By Dhanya Skariachan NEW YORK (Reuters) - Wal-Mart Stores Inc <WMT.N> said on Friday that bad weather and reduced food stamp benefits in the United States had dragged down comparable-store sales in the fiscal fourth quarter, more than offsetting a positive bump from the holiday season. The news came the same day the world's largest retailer shaved its quarterly outlook to account for special items, including those tied to its store closures in Brazil and China and its Sam's Club restructuring in the United States.
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