Businesses annual reports and business intelligence

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Overview of the two companies using their annual reports and business intelligence

The websites for balance sheets, cash flows, annuals and annual ratio are also for your viewing.

I need help the with question below for Target and Wal-mart.
The characteristics of these securities that may have caused the company to choose them to raise capital.

Please help! Thanks!

Wal-Mart annual Reports: http://walmartstores.com/GlobalWMStoresWeb/navigate.do?catg=724&contId=5700

Target Annual Reports: http://investors.target.com/phoenix.zhtml?c=65828&p=irol-reportsAnnual

About Wal-Mart

Wal-Mart Stores, Inc. (Wal-Mart) operates retail stores in various formats worldwide. The Company organizes its business into three principal segments: Wal-Mart Stores, SAM'S CLUB and International. The Wal-Mart Stores segment is the largest segment of Wal-Mart's business, accounting for 67.3% sales during the fiscal year ended January 31, 2005 (fiscal 2005). The segment consists of three different retail formats, all of which operate in the United States. The Company's SAM'S CLUB segment consists of membership warehouse clubs that operate in the United States, and accounts for 13% of fiscal 2005 sales. The international segment consists of retail operations in eight countries and Puerto Rico, and generated 19.7% of Wal-Mart's fiscal 2005 sales. In addition, the Company owns an unconsolidated minority interest of approximately 37% of The Seiyu, Ltd., a retailer in Japan.
(Source: www.msn.com)

PRODUCTS
Wal-Mart operates discount retail department stores selling a broad range of products. It typically stocks basic, rather than premium products. Wal-Mart also operates "Supercenters" which include a full line of grocery items. Wal-Mart also operates Sam's Club; these are "warehouse clubs" which, like Costco, require membership dues and sell merchandise in large and inexpensive sizes and quantities.

Wal-Mart operates 5 major retail formats under 3 retail divisions:

* Wal-Mart Stores USA
o Wal-Mart Discount Stores ? Average 100,000 square feet (9,290 m²) and include a selection of general merchandise, including apparel, electronics, health and beauty aids, toys, sporting goods, and household products.
o Wal-Mart Supercenter ? Average 187,000 square feet (17,400 m²) and combine a standard Wal-Mart Discount Store with a full-line supermarket. (commonly known as big box stores)
o Wal-Mart Neighborhood Market ? Average 43,000 square feet (4,000 m²) and include grocery, pharmacy, and limited general merchandise products.
o Walmart.com ? Online shopping site that offers merchandise different from that in stores. The walmart.com site also offers digital music downloads with digital rights management (DRM) and online photo processing.
* SAM'S CLUB ? a membership-only wholesale warehouse club focused mainly on serving small business owners. Clubs average 128,000 square feet (11,891 m²).
* Wal-Mart International ? operates various formats internationally, including (but not limited to) SAM'S CLUB, Discount Stores, Supercenters, Supermarkets, and restaurants.

Differentiation from competitors

Thus the single most important differentiation aspect of Wal-Mart is that they create the ideal one-stop shopping experience by providing goods and services at value for money prices. Wal-Mart is organized into ten distinct divisions. These include: Wal-Mart stores, SAM'S CLUBS, Neighborhood Markets, International, walmart.com, Tire & Lube Express, Wal-Mart Optical, Wal-Mart Pharmacy, Wal-Mart Vacations, and Wal-Mart's Used Fixture Auctions. Through these divisions, Wal-Mart offers thousands of products. The Wal-Mart stores contain groceries, clothes, healthcare products, toys, electronics, bedding, sports and recreation, automotive, among other items. Because of this conglomeration of products, the typical consumer can go into any Wal-Mart and walk out without having to stop at another store for anything that they could need. The important differentiation aspects are:

Pricing
Wal-Mart operates large discount retail stores selling a broad range of products such as clothing, consumer electronics, drugs, outdoor equipment, guns, toys, hardware, CDs and books. Its typical products are basic, mass-market equipment, rather than premium products stocked at specialist stores. Wal-Mart also operates "Supercenters" which include grocery supermarkets. SAM'S CLUB stores are also owned by Wal-Mart; these are "warehouse clubs," which require a paid membership to access. (Compare Costco)

Thus it has penetration pricing strategy giving value for money to the customers by attaining cost leadership.

Placement and Distribution
The company has always paid a great deal of attention to site selection; in the company's ...