Walmart's worst start to a month in seven years.

[muttly]

Obama's economy is wrecking havoc on businesses. One of those is Walmart,which according to an email from one their execs obtained by Bloomberg, is having their worst start to their February in seven years.


From article:
(Walmart U.S. CEO Bill Simon)
Simon cited negative economic growth, declining consumer confidence and rising unemployment as challenges facing the company. The U.S. economy shrank at a 0.1 percent annual rate in the fourth quarter, and the unemployment rate rose 0.1 percentage point to 7.9 percent in January. The Conference Board’s measure of consumer confidence declined last month to the lowest since November 2011.

Some other factors in the article included the payroll tax "hike",delays in tax returns and other IRS issues. I would add the rising Obama gas prices as another factor. It is taking more for people to put gas in their vehicles and creating less purchasing power.

Wal-Mart Executives Sweat Slow February Start in E-Mails - Bloomberg

 

[paullud]

It was artificially inflated which could hurt more people and make things even worse than if we let things happen naturally.

 

[LDB]

Don't forget that actual working people lost 2% from their paychecks as of this year as well when withholding went back to it's normal amount.

 

[layoutshooter]

What? Actual working people lost 2%? All 8 of us?

 

[skyraider]

You know, some of us have made fun of Walmart , but not me,,,,yeah right>


But if Walmart , who has make tonnnnnnnnnnnnsssssssssssss of money wants to be a hero, they could give back out of their wants. In other words, don't take,take, take, like our current government is doing, but give, give, and give back to the people . What!!!!!!!, yeah, cut gas prices to cost for the summer, cut food down to a near nothing profit on tators, meat, fish, and chicken for example for the summer like May 1st thru Sept 1st. I would venture to guess they would be run over with business on other stuff in that store. Well that's it for me.

 

[layoutshooter]

I have no idea what the market up is on chicken or gas. I do know that it is not out of the ordinary for a store/chain, to need make a gross margin of 35-40% just to pay the bills. Many products have little to no profits in them, so others need to be marked up to cover the difference.

I am not a hater or a fan of Wally World but I have no idea what they need to make to stay afloat.

 

[Brisco]

Just got finished reading another article covering this right before I came here to see what was going on............

Wal-Mart execs see 'total disaster' in February sales- MSN Money

As a legitimate "Small Business Owner".......my February has been EXACTLY like Wal-Marts. Business has DIED here in the Used OFFICE FURNITURE market (No....I don't sell Recliners DR).

Sales had been picking up since....Oh....August-September.....with December being the BEST month I had had since opening this thing almost 2 years ago. (How many CV Owners have ever put $16K in their Pocket in 1 Months time??? AFTER Expenses!!) January started out Decent.....but Fizzled after Inauguration Day. Since the 3rd week of January...........Sales here haven't been Sheee.......And.....other Dealers in the same area are experiencing the same. Only about 1/2 the crowd than normal was at last weeks big auction......and even then....none of us were really buying.

I was going to bring this up in the "Slow Freight" thread.........but thought Nah....way off topic....

Now that this discussion is here...............it is more of a related topic. Obviously you Guys Freight has fizzled for now........Wal-Mart is saying their February sales have fizzled.....this Small Business Owners Sales has Fizzled as of late...........and my sales are approximately 1/2 of what I did LAST February in 1/2 the room I have in this Location I moved into last August........So..........

Is Obawanomics slowly creeping up on us ALL????

Hope Not..............But it looks that way..........

 

[layoutshooter]

The economy may be tanking, but our freight is still there. We have been busy.

Do I think it't going to stay that way? Don't know. I hope it does, but I have grave doubts with that Marxist in Washington. He is one evil dude. What he is doing here is criminal.