We got so much better so quickly it was hard to believe. We totally stood...
We got so much better so quickly it was hard to believe. We totally stood Kmart off in those small towns of ours. Almost from the beginning, they weren’t very successful at taking our customers away in Jeff City and Poplar Bluff. Once Kmart arrived, we worked even harder at pleasing our customers, and they stayed loyal. This gave us a great surge of confidence in ourselves. But at that time our sales were 5 percent of Kmart’s. (through competition) Wal-Mart has lowered the gross margin in retailing from around 35 percent in the early 60s to only 22 percent today.
– Sam Walton