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Benefit of running an online business #32
Michael | October 18, 2007
Good Magazine has a spread on world retailers who operate the most square footage across their stores. Some of the companies that made the list (like Walmart and McDonalds) are not suprising to see at all. Here’s the image (click to enlarge):
A few things I DID find suprising:
- Some of the others on the list (like blockbuster)
- Some companies who are not on the list (like Costco, Ikea or Circuit City for instance)
- How much space Walmart actually covers! (18k + Acres! or somewhere in the neighborhood of 850 million square feet!)
Where am I going with this? Think of the money that Walmart spends on upkeep related costs (lighting, heating/cooling, cleaning etc).
I took a quick look at a recent Walmart SEC filing and they sink some huge numbers into this stuff. My wife’s the accountant not me, so I may not be reading these right, but it looks like Walmart is claiming (#’s in millions):
- Operating expenses -$ 17 130 (or 17 Billion dollars)
- Accumulated depreciation of property and equipment - $ 26, 881 (yes… 26.8 Billion dollars)
All things that most of 1ShoppingCart’s merchants as online businesses, don’t have to worry about!
(from GoodMagazine)
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