Wal-Mart sees banking as an opportunity to give the customer a better deal. That's what Wal-Mart's about. That's why they have demolished the food and toy industries. If it's better for the customers, then that's the way it ought to be.
There is no loyalty to a store -- that's what Federated has gone to school and found out. The place with the best product at the right time and at the right price, that's where the customer loyalty is.
Within the retail industry Federated is known for catering to the classes and May to the masses. For the May customer, it's an opportunity to get more upscale merchandise that a Bloomingdales' customer is familiar with.
If you look at Helen of Troy's customer base, sales are generally strong. Wal-Mart sales are up, Target sales are up,