Wal-Mart Message Board - Msg: 10445322

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Non-Tech : Wal-Mart

WMT 102.62

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To: Annette who wrote (789)	7/9/1999 2:23:00 PM
From: JakeStraw	Read Replies (1) of 1166

Tesco should fear Wal-Mart - survey biz.yahoo.com LONDON, July 9 (Reuters) - Britain's biggest supermarket chain, Tesco Plc, has most to fear from the impending arrival of U.S. retail giant Wal-Mart Stores Inc (NYSE:WMT - news), according to a survey published in a leading trade weekly on Friday. The survey of 100 store managers in SuperMarketing said nearly one-third answered ''Tesco'' when asked which of the biggest British chains would suffer most when Wal-Mart comes. The U.S. company sent shockwaves through the sector on June 14 when it launched a 6.7 billion pound ($10.40 billion) takeover bid for ASDA Group (quote from Yahoo! UK & Ireland: ASSD.L), Britain's third largest supermarket group. Tesco shares were hit when news of the Wal-Mart deal broke. ''Tesco will really struggle against Wal-Mart if it tries to compete against it on price and service -- those areas in which Wal-Mart is reputed to be very strong,'' one store manager told the survey. More than a quarter of the respondents said Safeway (quote from Yahoo! UK & Ireland: SFW.L) was at the highest risk from Wal-Mart's recipe of rock-bottom prices for a wide range of goods in huge stores. Wal-Mart's annual sales of more than $137 billion, mostly in the United States, are about five times Tesco's. SuperMarketing said respondents to its survey were drawn from the 6,500 British stores which are part of chains with at least 10 outlets. ($1 equals .6443 Pound)

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