Financial Times: Wal-Mart to offer financial services

Neil Buckley reports on Wal-Mart’s plans to provide financial services.

“I think financial services is an opportunity,” Lee Scott, Wal-Mart’s chief executive, said. “I’d like to do it more along the Wal-Mart way than other people’s.

“Rather than pricing off the market and [saying] if the market’s at a 70 per cent margin, we could be at 50 per cent and make a lot of money and still be cheaper, I’d rather say, what is a fair return on doing that?”

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