Wal-Mart plans 'buy American' push
Source: Agencies |
January 16, 2013, Wednesday
|
Print Edition
Print Edition
WAL-MART Stores Inc will buy an additional US$50 billion in US-made products over the next decade in areas such as sporting goods and high-end appliances in what the world's largest retailer called a bid to help boost the US economy.
Wal-Mart, the largest private employer and retailer in the United States, also said yesterday that it plans to hire 100,000 newly discharged veterans over the next five years, at a time when the US jobless rate is at 7.8 percent.
The moves are likely to receive a cool reception from critics, who claim Wal-Mart does not pay its workers enough and should be taken to task for selling too many goods made in lower-cost countries like China. The company is also under pressure over its sourcing practices, particularly after a deadly fire at a Bangladesh factory that made Wal-Mart clothes.
But Wal-Mart's US unit says about two-thirds of the goods it buys to sell in its stores are made, sourced from or grown in the US, citing its suppliers.
Last year, 55 percent of Walmart US sales came from groceries like food and drinks as well as health and beauty products, household goods such as paper towels, and pet supplies. Many of the items are typically sourced locally.
Only 7 percent of Walmart US sales were of apparel, jewelry and accessories, which retailers typically get from lower-cost countries.
The company's Walmart US and Sam's Club warehouse chain will increase what they already buy in the US in sporting goods, basic apparel, storage containers, games and paper products.
Wal-Mart, the largest private employer and retailer in the United States, also said yesterday that it plans to hire 100,000 newly discharged veterans over the next five years, at a time when the US jobless rate is at 7.8 percent.
The moves are likely to receive a cool reception from critics, who claim Wal-Mart does not pay its workers enough and should be taken to task for selling too many goods made in lower-cost countries like China. The company is also under pressure over its sourcing practices, particularly after a deadly fire at a Bangladesh factory that made Wal-Mart clothes.
But Wal-Mart's US unit says about two-thirds of the goods it buys to sell in its stores are made, sourced from or grown in the US, citing its suppliers.
Last year, 55 percent of Walmart US sales came from groceries like food and drinks as well as health and beauty products, household goods such as paper towels, and pet supplies. Many of the items are typically sourced locally.
Only 7 percent of Walmart US sales were of apparel, jewelry and accessories, which retailers typically get from lower-cost countries.
The company's Walmart US and Sam's Club warehouse chain will increase what they already buy in the US in sporting goods, basic apparel, storage containers, games and paper products.
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