US retailer Wal-Mart reportedly plans to revamp its private-label Great Value line of food next month.
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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.
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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.
