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Wal-Mart Faced With Inventory Glut

Disappointing December sales at Wal-Mart are leaving executives trying to figure out what to do with food, cosmetics, clothing and toys, per sources. Things have gotten so tight that the company is only letting product-category CEOs make purchases for stores, rather than lower-echelon managers, which is usually the case. The source says Wal-Mart is also asking vendors for cash to offset markdown costs to try to boost Q4 profit.

Read the whole story at New York Post »

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