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INDEPENDENT RETAILERS received a brief moment of hap- piness when big box retailer, Walmart, fell victim to econom- ic hardship, helping to even the playing fi eld for the rest of Main Street USA. For months, local discount stores and mom and pop shops have been witness to the fact that even the indus- try bigwigs aren’t immune to the recession. The Wall Street Journal confi rms, saying, “Wal- mart’s U.S. business, which accounts for 62 percent of its $419 billion in annual revenue, has reported declining sales at stores open at least a year, for two consecutive years.” In fact, Walmart suffered a ninth straight drop in its U.S. store sales last quarter, even with the anticipated back-to-school shopping season, according to CNN. Independent retailers are
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forewarned to keep an eye on the well-known competitor. Walmart is currently looking for resolutions to prevent any further decline in sales. Among these resolutions are: 1) Replacement of non-essen-
tial items such as clothing and home furnishings. Budgeted shoppers have increasd their spending on groceries and
continued on page 10 INDEPENDENTRETAILER
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