Postcards

How the power players do it - by Fortune senior editor at large Patricia Sellers

Power Point: Deliver value

November 6, 2008: 6:22 PM ET

"In my mind, there is no doubt that this is Wal-Mart time. This is the kind of environment that Sam Walton built this company for."

-- Lee Scott, president and CEO of Wal-Mart (WMT), in The New York Times today. Consumers are going for value and there's no better evidence than Wal-Mart's October sales. Same-store sales at Wal-Mart increased  2.4%, beating expectations. The stock dropped only 1% on a 443-point down day for the Dow. And it's up in after-hours trading. Meanwhile, Target's (TGT) per-store sales dropped 4.8%--more than anaysts predicted. Gap (GPS) and J.C. Penney (JCP) took even bigger hits, and even sales at Costco (COST) fell 1%. No mercy these days.

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