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Wal-Mart: Our shoppers are 'running out of money'

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Post by Guest Thu Apr 28, 2011 12:13 pm

Wal-Mart's core shoppers are running out of money much faster than a year ago due to rising gasoline prices, and the retail giant is worried, CEO Mike Duke said Wednesday.

"We're seeing core consumers under a lot of pressure," Duke said at an event in New York. "There's no doubt that rising fuel prices are having an impact."

http://money.cnn.com/2011/04/27/news/companies/walmart_ceo_consumers_under_pressure/index.htm

Wal-Mart: Our shoppers are 'running out of money' 98897 Wow! This Wal-Mart CEO is a genius, isn't he! One factor that he forgot to mention regarding lagging sales is the lack of JOBS and the high UNEMPLOYMENT rate! These factors are contributing to the store's financial losses more than the rising price of gas! Any first grader could have told him that!

Again, another example of ignoring the real reason the economy is suffering. Blame it on everything else other than rampant unemployment and more and more Americans being thrown into poverty as a result of no jobs available that pay a living wage! Wal-Mart itself contributes to that problem!
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Post by jchapman Thu Apr 28, 2011 6:21 pm

Did he forget to mention unemployment, or was he avoiding the issiue?
How convenient that they now have something to lay the blame on besides the real issiue. Strange that he mentions that business drops toward the end of the month because the money from their paychecks start to run out. Last job I had before I was laid off, I was paid weekly. Has that changed? If it hasn't, then it sounds like Social Security and food stamps might have something to do with it.

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Post by mistermunster Thu Apr 28, 2011 8:07 pm

The BIG corps, Kill our jobs, Our wages, ship jobs overseas and NOW they whine WE HAVE NO MONEY so they may PROFIT!!!!! All I can say to that is "DUH"!!!!!! lol!
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Post by Guest Thu Apr 28, 2011 8:11 pm

OH boy, dont these people think before they speak?

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Post by americatheneedy Thu Apr 28, 2011 11:12 pm

KARMA is a B****
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Post by mistermunster Fri Apr 29, 2011 12:47 am

Sick & Tired wrote:OH boy, dont these people think before they speak?

No, that whole PROFIT at any cost for the last 30 years kind of retards the brain to make any intelligent decisions.in business or anything else.
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Post by gettheminNOVEMBER Fri Apr 29, 2011 12:56 am

Maybe people are boycotting Wallymart? Or the dollar general is closer and cheaper? That is my case.
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Post by Guest Fri Apr 29, 2011 1:01 am

gettheminNOVEMBER wrote:Maybe people are boycotting Wallymart? Or the dollar general is closer and cheaper? That is my case.

I was using the Wal-Mart pharmacy for my prescriptions until yesterday. The closest one is 15 miles away in CT. I transferred my scrips to CVS - it was more than worth the extra five bucks I had to pay. It wasn't worth driving 30 miles round trip because of the price of gas.

Also, about two years ago, they decided they wanted to be more like Target and it backfired on them big time!

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Post by chopthis91 Fri Apr 29, 2011 1:04 am

I hate Wal-Mart with a passion. Hope they suffer with the rest of us...
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Post by New_Wave_Princess Fri Apr 29, 2011 5:11 pm

They are partly to blame for this so I hope they go down. They are the ones who got the ball rolling by wanting manufacturers to be cheap and go overseas. Now they are complaining, boo hoo.

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Post by exhaustedandtired/1208 Fri Apr 29, 2011 5:17 pm

Yep, MM. Its all about taking all the profits now and cash in but not to hire and destroy their profits! Its a new ERA in America.. Do more, make more with less...

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Post by Jobless_in_Ma Fri Apr 29, 2011 5:39 pm

The last corporation I have ANY sympathy for is Walmart. They are a huge part of the problem.
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Post by Guest Fri Apr 29, 2011 6:19 pm

I havent shopped at walmart since before i lost my house a few yrs ago. we had one a quarter of a mile from where we used to live.

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Post by Guest Fri Apr 29, 2011 10:02 pm

The time I saw a special about Walmart, and it showed a shot of Hillary on their Board, was a eye opener for me.

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Post by Jobless_in_Ma Fri Apr 29, 2011 10:10 pm

disgustedwithgovt wrote:The time I saw a special about Walmart, and it showed a shot of Hillary on their Board, was a eye opener for me.

Hillary? As in Clinton? When did this happen?

I find this hard to believe.
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Post by TomW Fri Apr 29, 2011 10:59 pm

Jobless_in_Ma wrote:
disgustedwithgovt wrote:The time I saw a special about Walmart, and it showed a shot of Hillary on their Board, was a eye opener for me.

Hillary? As in Clinton? When did this happen?

I find this hard to believe.
She was apparently on the board of Walmart when she was first lady of Arkansas -- Walmart is based in Arkansas.

In 1986, Sam Walton, the founder of Wal-Mart, had a problem. He was under growing pressure from shareholders — and his wife, Helen — to appoint a woman to the company’s 15-member board of directors.

So Mr. Walton turned to a young lawyer who just happened to be married to the governor of Arkansas, where Wal-Mart is based: Hillary Rodham Clinton.

Mrs. Clinton’s six-year tenure as a director of Wal-Mart, the nation’s largest company, remains a little known chapter in her closely scrutinized career. And it is little known for a reason. Mrs. Clinton rarely, if ever, discusses it, leaving her board membership out of her speeches and off her campaign Web site.

http://www.punditreview.com/2007/05/hillary-clintons-wal-mart-problem-takes-center-stage/
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Post by lendmeflight2 Fri Apr 29, 2011 11:35 pm

The OTHER side to this story too is that Walmart didn't used to be the slave wage employer that is today. Back in the 80's and early 90's Sam Walton took care of his employees compared to they way they are treated today. Walmart employees were pretty highly paid compared other retail employees and they had good benefits. When Sam Walton died and his kids took over they fired or ran off all of the old employees and turned walmart into what it is today.
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Post by irishmalou Sat Apr 30, 2011 12:49 am

The Big W better realize that times they are a changin. My brother in law works at Walmart and he is going to be unemployed very soon. Only good thing he got certified to do car maintenance work so hopefully he can find a better paying job. Walmart shouldn't be surprised if sales are down. I only have enough to shop Aldi.

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Post by New_Wave_Princess Sat Apr 30, 2011 12:54 am

I too have heard Sam Walton was much different than his kids. I also heard he was big on selling American made products as well.

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Post by lendmeflight2 Sat Apr 30, 2011 2:01 am

Walmart was one of the first retail companies to offer profit sharing to ALL employees too.
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