...Wal-Mart Stores, Inc. Chao Han Junliang Shi Zhongyi Hu 2/25/2015 Azusa Pacific University Case Study I: Sears, Roebuck and Co. vs. Wal-Mart Stores, Inc. Sears, Roebuck and Co. and Wal-Mart Stores, Inc. are the two big retail companies in U.S. Although Wal-Mart was acknowledged powerhouse of the U.S. retailing industry, Sears’ ROE exceeded Wal-Mart’s 2%, which can show that this firm was the true powerhouse. Therefore, Don Edwards, an analyst with a prestigious investment bank. He compared two financial performances of these two companies and he wanted to figure out which company performed better in different areas. Sears, Roebuck and Co. was founded in 1891. It started originally with a sole catalog business and then expanded into retail stores in 1924. Its stores were primarily located in shopping malls, including a large variety of merchandise. Sears has become the world’s largest retailer in terms of annual sales. By the early 1980s, Sears faced increased competition and declining market share. In 1992, The CEO of Sears, Arther C. Martinez has carried out three methods to improve profitability. The first was to cut costs. The second was to re-oriented the product mix in which the target audience was set to be middle-class female shoppers. The third was to offer customers more flexibility through the use of the company’s proprietary credit card. The policy of credit card has...
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...company success. Skill Highlights: • Floor set design and visual displays • Large cash/check deposits • Cash management • Store maintenance • Inventory control • Top sales performer • Cash flow management • Excellent communication skills • MS Windows proficient • Customer service • Strategic sales • Credit card processing • Adaptability • Conflict resolution • Strong organizational skills • Creative problem solver • Listening skills • Problem solver • Fast learner • Courteous demeanor Work Experience: Position: Customer Service Representative Date From: Dec. 2011 Date To : Aug. 2012 Company: Cobb Theaters City and State: Miami Lakes, Florida Description: Earned management trust by serving key holder, responsibly opening and closing store. Greeted customers entering the store to ascertain what each...
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...convenience stores that sell food, beverages, and gasoline. The stores are open 24 hours a day, 7 days a week. The business has 20 employees who do not always work at the same store; rather, they are assigned to stores on a rotating basis. Two employees work the day shift but only one works the night shift from 10:00 p.m. to 7:00 a.m. Ms. Cooper manages the company’s overall operations from head office. Customer satisfaction has always been important to Mary and she visits each store at least once a week and spends several hours serving customers and working alongside her employees. This gives her the opportunity to evaluate customer satisfaction and assess the quality of service provided by the employees. Recently, Mary has noticed an increase in the number of credit card transactions declined by the bank. An analysis of the reasons given by the card issuers showed that several cases occurred after the customers had disputed the transactions. Mary has asked you, in your capacity as an internal auditing expert, to analyze the situation and inform her of your findings. Here is a description of sales for each of Ms. Cooper’s stores: 1. All sales are recognized on a cash basis, and the company accepts major credit cards and debit cards. 2. Each store has its own cash register which records all transactions. The files are uploaded once a week to the central system server located at the company’s head office. 3. At the head office sales data from each store are consolidated...
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...Alternative Financial Services (AFS) is a term often used to describe the array of financial services offered by providers that operate outside of federally insured banks and thrifts (hereafter referred to as "banks"). Check-cashing outlets, money transmitters, car title lenders, payday loan stores, pawnshops, and rent-to-own stores are all considered AFS providers. To sum things up, Alternative Financial Services are basically ways to receive money without using a more traditional way, such as getting a loan from a commercial bank. The different [I would delete “different” – seems repetitive with “incredibly diverse”] types of Alternative Financial Services are incredibly diverse, often described as a melting pot of providers. These different services include car title lenders, pawnshops, rent-to-own stores, and last but not least, payday loan stores. Alternative Financial Services have become increasingly popular since the Great Recession, mainly due to the strict credit regulations among commercial banks. Due to its deep roots in Chattanooga, you will find that I have centered my argument against Alternative Financial Services on the payday loan industry. As of 2006, there were 64-payday loan stores located inside the city limits of Chattanooga. According to a survey conducted by the Social Science Research Network, Tennessee has one of the highest rates of payday lending in the country, with several counties and ZIP codes...
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...have approximately 168,000 employees worldwide. Their major product lines are audio, video, televisions, information and communications, semiconductors, and electronic components. In 2010 global consolidated sales and operating revenue were $7,181,300 billion Yen or approximately $89.8 million US dollars (Sony Corporation, 2012). Sony Corporation has two websites, www.sony.com for the U.S. business lines and www.sony.net for the global corporate site. Each website is very similar in its offerings. Product information is available with detailed specs, and there are options to purchase some products online or links to purchase from a Sony store or retailer. Customization of the VAIO computer line can be done on the website giving the consumer the option to build their computer with more options than would normally be available in retail stores, although stock models can be purchased (Sony Corporation, 2012). Contact can be made with Sony through various means on their website depending on what you need. Technical support requests...
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...is an upscale discount retailer that provides high-quality, on-trend merchandise at attractive prices in clean, spacious and guest-friendly stores. Target opened the first store in 1962 in the Minneapolis suburb of Roseville, Minnesota, and now is the second largest retailer in the United States right after Wal-Mart. In fiscal 2015, the company’s revenue grew by $1.3 billion, reflecting a 1.3% increase in comparable sales and the contribution from new stores. Today, Target remains committed to providing a one-stop shopping experience for customers by delivering differentiated merchandise and outstanding value with its Expect More, Pay Less brand promise. Target constantly fulfils the needs and fuels the potential of the customers by delivering outstanding value, continuous innovation and an exceptional guest experience. As of 2015, Target operates 1,793 locations and 38 distribution centers with 341,000 team members throughout the United States and worldwide. The retail format include the discount store Target, the hypermarket SuperTarget, and “flexible format” stores previously named CityTarget and TargetExpress before consolidated under the Target Branding. Operating across the U.S., Target’s biggest markets by total sales are California, Texas, and Florida. The company sells a range of general merchandise and food through its store and digital channels. The Company’s general...
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...CANADIAN TIRE CORPORATION, LIMITED 2012 Annual Information Form February 21, 2013 ANNUAL INFORMATION FORM CANADIAN TIRE CORPORATION, LIMITED TABLE OF CONTENTS 1. 2. Corporate Structure Description of the Business 2.1 Retail Business 2.2 Financial Services Business 2.3 Seasonality of the Business 2.4 Intangible Properties 2.5 Economic Dependence 2.6 Lending 2.7 Financing of the Business 2.8 Risk Factors 2.9 Employees 2.10 Social and Environmental Policies General Development of the Business 3.1 Retail Business Developments 3.2 Financial Services Business Developments 3.3 Other Business Developments Capital Structure 4.1 Description of Capital Structure 4.2 Market for Securities Dividends Security Ratings Transfer Agents and Registrars Directors and Officers Interests of Experts 1 1 2 10 11 12 12 13 13 13 15 15 16 16 21 21 23 23 24 25 26 27 27 32 32 33 i 3. 4. 5. 6. 7. 8. 9. 10. Legal Proceedings and Regulatory Actions 11. Additional Information ANNEX A – Audit Committee Mandate and Charter Certain brands mentioned in this report are the trade-marks of Canadian Tire Corporation, Limited, Mark’s Work Wearhouse Ltd., FGL Sports Ltd. or used under license. Others are the property of their respective owners. CAUTIONARY NOTE REGARDING FORWARD LOOKING INFORMATION This Annual Information Form, and the documents incorporated by reference herein, contain forward-looking information that reflects management’s current expectations related to matters such as future...
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...finance health when an emergency situation occurs. * Lawrence Sports is a 20 million revenue company that manufactures and distributes equipment and preventive gear for baseball, football, basketball, and volleyball. Mayo Stores is the principal customer of Lawrence Sport. Mayo also is the world leading retailer, with 3,000 stores with operations in United States, Canada, South America, and Europe. Lawrence sources all its materials from Gartner Products and Murray Leather Works. * Robert Dent is the Key Account Manager of Mayo Stores. He has shown an impressive track record in building and excellent and profitable relationship with Mayo. Ann-Wu Head is the head of vendor relationship. She feels that Lawrence Sports’ bargaining power with Gartner is restricted since Lawrence Sports is not a major customer for Gartner. She finds Murray the more flexible of the two vendors and she is looking for more vendors like them. She feels that Murray is likely to run deep financial troubles if Lawrence Sports stretches payment beyond a limit. * As managers we are responsible for the working capital management for the company. We have the commitment of keep good relations while we solve the financial problem. The credit line is 1.2 million. Actually the credit line is in the top, if Lawrence does not start an aggressive financial solution, they are in a high risk of having no cash flow solvency. As a primary alternative the organization can...
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...nominal processing fee and off you go with your favourite consumer durable. There are no hidden charges on those consumer durables. Bajaj Finserv is able to finance goods to consumers without charging any interest as they have tie-ups with manufacturers and dealers regarding price of the product as company cannot do business without earning profits. Bajaj Finserv has been growing well since 2008 as due to the recession many of the companies stopped there financing business and there is only one competitor in market HDFC. HDFC provides facility to its credit card customers only so the rest of customers are bound to come to Bajaj Finserv but even HDFC charges interest on EMI but Bajaj Finserv doesn’t charge interest. The extra advantage on Financing for CDs are that BFL is giving loan on CD products within 3 minutes, then why to block the credit limit of HDFC credit card on Consumer Durables products. Rather than to avail the credit card facility in some other section. Products Covered 0% interest Consumer Durables Finance is available on a wide range of products and in over 80 cities across India. Here under is an indicative list of products covered: *...
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...Introduction Today, online purchasing is becoming more and more prevalent in our society. People find it easier to purchase online than outside their home because it is simply more convenient. People live extremely busy lives and purchasing online has become a very simple and easy process. No longer do people have to leave the comfort of their own home or wait in long lines at stores. With a few clicks, they can have products ordered and delivered to their homes within a few days. This is extremely handy for people who work long days or have to take care of their children. Online shopping is becoming the new wave for the future. However, this process can be scary for first time users and can leave consumers skeptical of the safety and protection of their personal information. First time online shoppers might be afraid to make the change from personal to digital. Many consumers fear the possibility of problems because they are not dealing with individuals in a retail environment. They fear the possibility of identity theft by hackers and problems with hidden costs and uncertain return policies. These problems do occur with online shopping but there are certain steps and measures that can be taken to reduce these problems. The digital firm is a way for everyone to make their lives easier and less stressful. Identity Theft Shopping online can increase your risk to being a victim identity theft. Computer crime is growing now that more people have access to computers...
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...turn to Dudzik v. Klein's All Sports, 158 Misc. 2d 72 (1993) in this case for reference. In Dudzik, the plaintiffs purchased a bat manufactured with a specialized graphite carbon. This bat was being marketed as being an unbreakable bat that could hit the ball farther than a normal bat. The longer distance was not disputed in this case. The first bat bought from the defendant developed internal cracks due to a manufacturer defect. This bat was returned in exchange for another bat of the same make and model in accordance to the return policy posted at the store. The second bat also developed internal cracks and was rendered useless for its' intent and was again brought back to the store. This time, the plaintiff requested a refund for the total of $170.00 plus sales tax as both bats had been defective. The defendant, however, had a conspicuously posted refund policy which indicated that any exchanges after 30 days will be either on credit in the store or an exchange of the product. The notice went on to say that there are "no refunds for defective items". The...
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...Executive Summery3 How E-Payments Work4 E-Payment System Review5 Security Suggestions6 Executive Summery Book Bunker is a book store specializing in rare and used books. Established twenty years ago, in a small town, the book store grew and expanded. Recently Book Bunker has implemented an online presence, including their own website and is now looking for a secure online payment system to prevent losing any further online sales. This report will explain how an e-payment system works along with three researched e-payment systems recommendations. In addition, security suggestions for Book Bunkers website and e-payment system to secure their database and customer transactions will be discussed. In attempt to help Mary and Joe decide what e-payment system to use, I have made three recommendations including Authorize.net ,Wepay, and PayPal. I believe the information I’ve provided will give your business the direction it needs to choose the right e-payment system. How E-Payments Work There are many online payment service providers (PSP) available today, most of them accepting all major credit cards. Online credit card payments work by a customer imputing their credit card information into the payment system data base, acting as a promise to pay. The PSP the contacts the bank that issued the credit card who then authorizes the credit card. Many PSP’s can complete these steps in less than 30 seconds. Once the payment steps are completed, the issuing bank settles...
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...Risk Assessment and Mitigation Techniques Any solution will have inherent risk, the key is to identify and explore the consequences of the risks so mitigation can be incorporated into the implementation plan through contingency plans. Lawrence Sports faces several risks in attempting to implement a working capital policy. The first risk is the extension of credit to customers. If Lawrence Sports is too liberal with extending credit they will be faced with the need to borrow money to meet the target cash balance. On the contrary, if Lawrence Sports has a strict credit policy, sales may suffer as a result. The mitigation of this risk is for Lawrence Sports to have a conservative credit policy and consistent implementation with every customer. The second risk is the implementation of the electronic payments. Lawrence Sports can not coerce Mayo Stores, Gartner Products or Murray Leather Works to convert to a new system which Lawrence Sports may implement. In addition, an aggressive attempt to implement the EFT could cause a sever rift in business relations which could cripple the company. To mitigate this risk, Lawrence Sports could communicate early on with customers and vendors about their intention to convert systems and providing explanation of the numerous benefits of implementing an electronic payment system. Lawrence Sports can also offer a higher discount on transactions for a limited period for using the electronic payment process. Cash budgeting may cause shockwaves to...
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...register tape d. All of the above 2. Which of the following is a type of register disbursement scheme? e. Fictitious refunds f. Overstated refunds g. False voids h. All of the above 3. When an employee perpetrates a credit card refund scheme, the perpetual inventory will show a greater amount than the physical inventory. i. True j. False 4. An excessive number of reversing sales transactions at the register is an indicator of which of the following schemes? k. Skimming l. Register disbursement m. Pass-through scheme n. Multiple reimbursements 5. Register disbursement schemes are difficult to conceal because they cause the cash drawer to be out of balance with the cash register tape. o. True p. False 6. Which of the following can be used to conceal a false refund scheme? q. Destroying register tapes r. Issuing refunds below the review limit s. Forcing inventory totals t. All of the above 7. For the perpetrator, the most dangerous part of a typical register disbursement scheme is often: u. Physically removing the cash from the register and carrying it out of the store v. Adjusting the cash register tape to match the cash count w. Replacing the returned merchandise in the physical inventory x. Forging the customer receipt as documentation for the reversing transaction 8. To safeguard against false...
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...probably researches each product before he purchases it. He’s probably a serial returner and has developed a winning strategy that involves specific tactics and counter tactics when he returns merchandise he doesn’t like. When there is a problem with an item that he has acquired, he seems to take it personally and wants the situation resolved immediately. (Garrett, 2007) Sara’s goals and objectives as a returns employee are to make sure that the customer leaves the store with another piece of merchandise. She’s pleasant with each customer, she listens to each problem and she tries to appease them by offering small discounts for their trouble, whether it may have been big or small. She is sensative and takes things to heart when someone attacks her employer or fellow employees. Her main focus is to make sure that customer returns to that store for future purchases. The main goals and objectives of the customers that shop at Alpha Electronics is to purchase electronic products. They also shop at the store because it is convenient...
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