Sam’s Club has struggled for years with sluggish sales, and it now intends to take a tack that steers it away from its Walmart roots, The Wall Street Journal reports.
The company wants to move away from mainstream consumers — households that earn $45,000 a year — and go more upscale to attract affluent shoppers, the report says.
Wal-Mart Stores Inc. created Sam’s Club to bring in small businesses looking to stock up on discounted bulk items. But the two have become more intertwined, to the point that “Wal-Mart is Sam’s largest competitor,” one retail analyst said.
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