Letter: Wal-Mart
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Your support makes all the difference.Sir: You report (15 June) that the entry of Wal-Mart into the UK will slash margins in the UK retail market, leading to lower prices for consumers. But existing UK retail margins are about 6 per cent. Wal- Mart made profits last year of some $5bn on sales of $85.5bn - a 5.85- per-cent pre-tax return on sales. Not much opportunity there for reduced prices, unless, of course, employee costs are to be reduced and consumer choice restricted .
M S BRYANT
Honfleur,
France
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