Wal-Mart Ending Layaway?!?!?! - Page 5 - GM Forum - Buick, Cadillac, Chev, Olds, GMC & Pontiac chat


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Old 10-05-2006, 12:09 PM   #41
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Originally Posted by SSE Motorhead
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Any company would probably what, double, triple their sales by adding Walmart to their customer base?
They had an interesting documentary about that a while back. Just get one item in their store and then you are an instant millionaire!
Hmm. Maybe. I know the chemist who invented PureWorks Hand Sanitizer (among other things). He approached WalMart once about a shampoo he developed. They wanted to retail the product for $.99 with x% profit margin (I donít recall the percentage), AND they would pay him as the product sold. In order to make any profit heíd have had to produce, package, ship, and floor the product for about $.25/copy. It wasnít possible for him and it was too risky.

WalMart has a lot of clout and drives a very hard bargain (in fact, they DONíT bargain). But if a supplier can meet their terms AND make a profit doing it, they may certainly have a golden cow!

"Documentaries" BTW, should not be taken as gospel. Some of them may be OK, but I'd be willing to bet the majority of them are biased. Maybe not intentionally, by the producer anyway, but I've been privvy to the facts on more than one "documentary" that failed to present ALL the facts. This is especially evident in environmental documentaries. These usually are biased by the producer.

Same goes for the news. If they don't have all the facts, they tend to make them up. I've seen it done.

Whooo. What happened? How'd I get off on that tangent? This has nothing to do with layaway! Maybe I should start a new thread...sorry!
You are dead on the Money... And that is exactly what they do...

I have seen Markups as high as 600% .... If thats not being greedy I don't know what is

And I'll say it again... My Store generally Profits 10% of its totall sales and costs... By the end of the Fiscal year ( Jan 31st ) we have usually done 70,000,000 - 80,000,000 in sales, which usually leaves them an 8,000,000 profit for the fiscal year after everything is paid for... Our store was built in 1994 and Opened Jan 1995...

We helped Open another store that Opend Feb 2005... It cost 7,000,000 to build the store...The $$$$$$ that go through wal mart everyday is nuts

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Old 10-05-2006, 01:27 PM   #42
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Originally Posted by jr's3800

...And I'll say it again... My Store generally Profits 10% of its totall sales and costs... By the end of the Fiscal year ( Jan 31st ) we have usually done 70,000,000 - 80,000,000 in sales, which usually leaves them an 8,000,000 profit for the fiscal year after everything is paid for... Our store was built in 1994 and Opened Jan 1995...

We helped Open another store that Opend Feb 2005... It cost 7,000,000 to build the store...The $$$$$$ that go through wal mart everyday is nuts
That'* ONE store! Imagine the profit made from every WallyMart in one day. My imagination can't begin to realize that kind of money. I have 3 (THREE) super Wallymarts within 15 minutes of my house. Actually, 2 1/4, one is under construction. Unbelievable.

If I had the money WallyMart LOST in one day (due to theft, damage, returns, etc.), I'd quit my job and retire. Maybe buy a helicopter.
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Old 10-05-2006, 02:32 PM   #43
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Originally Posted by jr's3800

...And I'll say it again... My Store generally Profits 10% of its totall sales and costs... By the end of the Fiscal year ( Jan 31st ) we have usually done 70,000,000 - 80,000,000 in sales, which usually leaves them an 8,000,000 profit for the fiscal year after everything is paid for... Our store was built in 1994 and Opened Jan 1995...

We helped Open another store that Opend Feb 2005... It cost 7,000,000 to build the store...The $$$$$$ that go through wal mart everyday is nuts
That'* ONE store! Imagine the profit made from every WallyMart in one day. My imagination can't begin to realize that kind of money. I have 3 (THREE) super Wallymarts within 15 minutes of my house. Actually, 2 1/4, one is under construction. Unbelievable.

If I had the money WallyMart LOST in one day (due to theft, damage, returns, etc.), I'd quit my job and retire. Maybe buy a helicopter.
We had a Manager at one point that was retired from GE.... He just worked for something to do... He too all of his Bonus money and Bought Wal Mart stock... This is back when it was $23 a share before it split...

After years of buying these stocks.... Upper management did not like the way he was running the store... He told them to fire him he would run it as he saw fit... They pushed him out the door and he was happy to go.... At that time walmart stock was ready to split... He retired from wally a very rich man...

The Walton kids are worth 75 Billion <---- Yeah thats right... I said Billion...

Wal Mart needs no one to help defeat them... The are going to be their own defeat if they keep building all of these stores so close together... The Greed is showing in a Bad way, and it seems that Wally Mart is a monoply

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Old 10-05-2006, 02:50 PM   #44
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I heard a few months ago about Wal Mart getting rid of layway. I understand why as it cuts their profits, and IIRC Walmart has free layaway, so if you cancel your layaway, your item just sat in the back instead of on the floor where I could've been sold and they have lost money. It makes sense to me. I think I would've waited until after the holiday season to do it instead of right before, because I think their sales will be hurt from it, but thats just my $.02.

FWIW, I work at KMart and while we still have Layaway, its not free. We charge a $5 fee for layaway, that way if you cancel it we at least just got $5 to help pay for the losses of it not being on the floor. Due to us charging for layaway, we don't do TONS of buisness in layaway, but more than I would think. I know KMart is thinking that Walmart getting rid of their layaway is going to help us out this holiday season. We do have 24 hour hold just like target so for some reason if you can't pick it up because you don't have a truck or you don't have the cash on you or whatever, we can hold it for 24 hours but thats it.

Personally, I feel if you can't buy it now you shouldn't buy it, but a lot of people count on layaway for their holiday shopping, which is why I think they're not going to see as large of profits as they are expecting this year.
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Old 10-05-2006, 02:57 PM   #45
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Yes I agree a lot of stuff does go back to the floor... But it totally amazes me to see what we go through for the holliday season... We have had our back hallways cluttered with Electronics and the like( what ever may be a good seller ) and watch them dissappear over the next couple of days...

We used to have a close to 30 trailers for Lawaway alone, that didn't include the Housewares and Furniture trailers... And the reason we had those trailers is that we did not have enough space to store it all.. A few months ago we had $2,000,000 worth of merchandise in backstock... Its nuts... The number of people that actually bought the stuff on Lawaway far outnumbered the ones that cancelled in out store...

But again... Wal Mart will end the Lawaway December 8th

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