Table 3.7 contains the financial results for Walmart and Macy's for 2012. Evaluate the financial performance of each company based on the various metrics discussed such as ROE, ROA, profit margin, Account Payable Turnover, Cash to Cash, Account Receivable Turnover, Inventory Turnover and Property, Plant & Equip. turnover. Explain differences in their performance based on their supply chain strategy and structure. Compare the metrics for each company with similar metrics for Amazon and Nordstrom from Table 3.1. Which metrics does each company perform better on? What supply chain drivers and metrics might explain this difference in performance?

Table 3.7
Year Ended January 31, 2013 ($millions)		Walmart	Macy's
Net Operating Revenues		$469,162	$27,686
Cost of Goods Sold		$352,488	$16,538
Gross Profit		$116,674	$11,148
SG&A Expense		$88,873	$8,482
Operating income		$27,801	$2,661
Interest Expense		$2,251	$425
Other Income (loss)-net		$187	-$134
Income before taxes		$25,737	$2,102
Income taxes		$7,981	$767
Nte Income		$17,756	$1,198
Assets
Cash & Cash Equivalent		$7,781	$1,836
Net Receivables		$6,768	$371
Inventories		$43,803	$5,308
Total Current Assets		$59,940	$7,876
PP&E		$116,681	$8,196
Goodwill		$20,497	$3,743
Other Assets		$5,987	$615
Total Assets		$203,105	$20,991
Liabilites & Equity
Accounts Payable		$59,099	$4,951
Short Term Debt		$12,719	$124
Total Current Liabilities		$71,818	$5,075
Long Term Debt		$41,417	$6,806
Total liabilities		$126,243	$14,940
Stockholder Equity		$76,343	$6,051
Table 3.1		Amazon.com	Norstrom
Period Ending		12/31/2013	2/2/2013
Total Revenue		$74,452	$12,148
COGS		$54,181	$7,432
Gross Profit		$20,271	$4,716
SG&A		$19,526	$3,371
Operating Income or loss		$745	$1,345
Total other income/expenses net		-$98	$0
Earnings before interest and taxes		$647	$1,345
Interest Expense		$141	$160
Income before tax		$506	$1,185
Income tax expense		$161	$450
Minority Interest		$0	$0
Net Income		$274	$613
Assets
Cash & Cash Equivalent		$8,658	$1,285
Short Term Investments		$3,789	$0
Net Receivables		$4,767	$2,356
Inventories		$7,411	$1,360
Other current assets		$0	$80
Total current assets		$24,625	$5,081
PPE		$10,949	$2,579
Goodwill		$2,655	$175
Other assets		$1,930	$254
Total assets		$40,159	$8,089
Liabilities & Equity
Account Payable		$21,821	$1,415
Current long term debt		$0	$7
Other current liabilites		$1,159	$804
Long term debt		$3,191	$3,124
Other liabilities		$4,242	$341
Deferred long term liability charges		$0	$485
Total Liabilites		$30,413	$6,176
Total stockholder equity		$9,746	$1,913