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Wal-Mart in $50 billion 'buy American' push

Posted By -NO AUTHOR- On 01/15/2013 @ 12:07 pm In Front Page,Money,U.S.,World | No Comments

(Reuters) – Wal-Mart Stores Inc will buy an additional $50 billion in U.S.-made goods over the next decade in areas like sporting goods and high-end appliances in what the world’s largest retailer called a bid to help boost the U.S. economy.

Wal-Mart, the largest private employer in the United States, also said on Tuesday it plans to hire 100,000 newly discharged veterans over the next five years, at a time when the U.S. unemployment rate is at 7.8 percent.

The moves are likely to receive a cool reception from critics, who claim Wal-Mart does not pay its workers enough and slam the retailer for selling too many goods made in lower-cost countries like China. The company is also under pressure over its sourcing practices, particularly after a deadly fire at a Bangladesh factory that made Wal-Mart clothes.

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