Wal-Mart may have had its second-quarter profit up by 17% with the help of “people…eating more sandwiches in Puerto Rico”. Yet authorities on the island warned the retailing giant of breaking the law regulating milk prices:Rican regulators say Wal-Mart was offering milk for $1.46 a quart.
That's 36 cents below the price set by the U.S. territory's government to protect its milk industry. Milk regulation agency Director Juan Pedro says Wal-Mart was in violation with the ultra-high-temperature Great Value brand…
Wal-Mart said in a statement Thursday that it is committed to following all local laws and that it corrected the listed price as soon as it was alerted to the situation.
Earlier this week, Wal-Mart officials announced plans for a major expansion in Brazil which would add between 80 and 90 stores to the over 300 already in the country.
Image- BBC News
Sources- BBC News, CNNMoney.com, The Age, Reuters
No comments:
Post a Comment