US retailer Wal-Mart reportedly plans to revamp its private-label Great Value line of food next month.
Go deeper with GlobalData
New packaging and more marketing will be the focus of the brand, Wal-Mart CFO Tom Schoewe told Bloomberg this week.
“For retailers, private-label sales generate a higher profit margin than national brands from suppliers,” he said.
It is understood Wal-Mart is hiring 75 people to oversee product development and purchases for its private-label business.
The revamp is believed to be part of a renewed interest in improving the company’s private-label offerings in a bid to boost profit and increase store visits.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataOfficials at Wal-Mart declined to comment further when contacted by just-food.
In a trading update this week, Wal-Mart noted that its fourth-quarter performance lagged behind full-year sales gains, with net sales in the twelve-month period increasing by a total of 7.2% to $401.24bn, the company said.
Net sales in the three-month period ended 31 January edged up just 1.7% to US$107.99bn.
