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Wal-Mart’s Entire Business Model Is Being Smashed to Pieces


NEW YORK ( TheStreet) -- "Now, when it comes to Wal-Mart, there's no two ways about it: I'm cheap," wrote Wal-Mart (WMT - Get Report) founder Sam Walton in his 1992 memoir "Sam Walton: Made in America."

If the notoriously cheap Walton were alive today, he would probably be surprised that his pioneering profit formula -- keep costs low so that prices are as low as possible and customers buy more -- is now virtually impossible to maintain. Full blame for that can be pinned on employees demanding higher wages and the rise of e-commerce giants such as Amazon (AMZN - Get Report) , which are open 24 hours a day, seven days a week.

Perhaps the retail legend saw some of...