ACG 5025 Paper - B rendan ONeal ACG 5025 Accounting...

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Brendan O’Neal ACG 5025 Accounting Practices of Wal-Mart, Target, and Competition Wal-Mart is currently the world’s largest retailer; 2003 retail sales came to $244.5 billion and grew to more than $405 billion in fiscal year 2010; currently there are more than 2 million employees within the organization. Wal-Mart’s competition includes Target and K-Mart stores. Wal-Mart offers a wide variety of merchandise throughout its retail outlets, to include Wal-Mart Supercenters, discount stores, neighborhood markets, and Sam’s Club Warehouses. Wal-Mart became an international company in 1991 and now has more than 8,400 facilities throughout the world. Per the company’s 2010 report, its mission is to save people money for them to live better. In 2010, Wal-Mart has grown operating income faster than sales at a rate of 5.2%, translating into $19.5 billion. Inventory was also reduced by $1.8 billion over 2009. Target was incorporated in Minnesota in 1902; at this current time Target operates under two reportable segments, primarily as retail and secondarily with credit cards. Retail includes all merchandising, credit cards
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includes the credit that is extended to qualified guests. Fiscal year 2009 resulted in total revenue of $63 billion; the company has experienced a growth of total overall revenue since 2004. According to the company’s 2009 report, 2009 financial results in both business segments were affected by difficult economic environment that is currently affecting the country. Despite the economic difficulties that much of the country experienced,
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This note was uploaded on 01/30/2011 for the course ACG 5025 taught by Professor Kest during the Spring '10 term at Hodges University.

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ACG 5025 Paper - B rendan ONeal ACG 5025 Accounting...

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