"Unless you have a clear vision on how you are gonna compete with Wal-Mart, you need to get out of the business," says Daniel Wegman. While some food retailers fold soon after a Wal-Mart opens nearby, Wegmans continues to expand. The retailer's formula is the opposite of Wal-Mart's pile-it-high-sell-it-cheap retailing; instead, Wegmans looks for a spot between price and quality.

Full Story:

Related Summaries