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Wal-Mart Doldrums Continue In U.s.

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http://www.nytimes.com/2010/11/17/business/17shop.html?_r=1&ref=business

The tepid economic recovery does not seem to be extending to many of Wal-Mart’s customers in the United States, lower-income consumers who are not yet spending. The nation’s largest retailer reported Tuesday that sales in its American stores open at least a year, a key measure of retail health, had declined for the sixth consecutive quarter.

Wal-Mart’s net income for the third quarter rose 9.3 percent, to $3.4 billion in the quarter that ended Oct. 29, because of international growth and cost-cutting, and revenue over all rose 2.6 percent, to $101.2 billion.

In the United States, where Wal-Mart stores open at least a year saw a 1.3 percent drop in revenue, a measure known as same-store sales, executives said they were continuing with changes like increasing the number of items for sale, adding more $1-and-under products and underselling competitors.

Still, visits to Wal-Mart’s American stores declined from a year ago, as did the average price paid at checkout, Wal-Mart executives said.

“They’re focused on necessities and being practical with how they spend their money,” Charles M. Holley Jr., executive vice president for finance, said in a call with reporters. “We still see what we call the paycheck cycle, where you see the spikes in comps the day or two after a payroll check,” he said. “It’s every bit as pronounced as we’ve seen it.”

So is this a consumerless recovery, sales returning back to normal sustainable levels or has Wal-Mart peaked and there is no where for the business to go and is merely slowly declining?

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So is this a consumerless recovery, sales returning back to normal sustainable levels or has Wal-Mart peaked and there is no where for the business to go and is merely slowly declining?

Or perhaps, unlike over here, nobody in the USA can find work.

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How can people spend more when they don't have any more in their pocket to spend but have more things to spend it on?...gone are the days of easy credit and withdrawing equity from homes to supplement income....even importing people require jobs so they can spend ;)

More customers or the same customers that spend more. :huh:

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Fvck Walmart

It, and its equivalents around the world. They are destroying your culture and societies longevity for a quick fix of sugar and plastic.

http://www.peopleofwalmart.com/

+1

...and behind all of this is one thing: GREED.

People what more stuff, they want it quicker, faster, and in more substantial quantities.

But most of this 'stuff' is junk that no one really needs!

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I think this kind of info shows just how wrong the Fed policy is but seemingly how powerless the World is to do anything.

Basically, we have global deflation but the Fed printing is causing inflation in commodities which is flowing through to everyday bills of food, heating, fuel, etc. The result is that people are having trouble to pay for their needs let alone to go out and spend on extras.

All that Bernanke is doing is enriching his mates in the banks - I think history will look very poorly on him but sod history as it is the here and now that hundreds of millions of people have to live. I believe, IMPO, that King is doing more or less the same here.

This is a massive rip-off of the ordinary people IMPO.

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So is this a consumerless recovery, sales returning back to normal sustainable levels or has Wal-Mart peaked and there is no where for the business to go and is merely slowly declining?

Clearly a sign of recovery. People without jobs are no longer chosing to purchase cheap crap from Wal Mart, but are instead chosing to spend their food stamps at boutique delicatessens.

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So the cheerleaders of low pay discover their customers can't afford to buy stuff? Sheer genius. It's almost as funny as the newspaper owners supporting right wing cuts in education spending that produce a nation of semi illiterate people who do not read newspapers!

:lol::lol::lol:

Edited by wonderpup

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Yet Sainsbury's profits grow over here.

Stopped using them, myself as they are now level with Waitrose on price, but (still) way behind on quality of service and product.

WM own ASDA, right?

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Wal-mart do a lot more business in the days or even hours after people receive their food stamp top-ups. Obviously what they need to do is just open for the first half of the month and save on what little wages they pay out for the rest.

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I think this kind of info shows just how wrong the Fed policy is but seemingly how powerless the World is to do anything.

Basically, we have global deflation but the Fed printing is causing inflation in commodities which is flowing through to everyday bills of food, heating, fuel, etc. The result is that people are having trouble to pay for their needs let alone to go out and spend on extras.

All that Bernanke is doing is enriching his mates in the banks - I think history will look very poorly on him but sod history as it is the here and now that hundreds of millions of people have to live. I believe, IMPO, that King is doing more or less the same here.

This is a massive rip-off of the ordinary people IMPO.

Tying in to the global-ness of your comments; at it's peak, Wall Mart alone accounted for 70% of ALL Chinese exports. This has got to be hurting China too.

When I think of the implications of this, the only analogy for it, imv, is the story of the American Indians trading Manhattan to the Dutch for cheap trinkets. This is effectively what Wall Mart represents, where Americans get cheap Chinese trinkets for their dollars, that represent claims against real assets of the American people.

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So the cheerleaders of low pay discover their customers can't afford to buy stuff? Sheer genius. It's almost as funny as the newspaper owners supporting right wing cuts in education spending that produce a nation of semi illiterate people who do not read newspapers!

:lol::lol::lol:

and those same low pay people can no longer afford to generate tax to pay the deficit that is needed to provide them with food stamps.

Yhe inexorable export of wealth creation would tend to do this...the end game is the US worker is CHEAPER than the Chinese, Indian or whatever, and the jobs will come flooding back.

They should have STOPPED deficit spending years ago, and STOPPED the jobs going abroad....

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Sam Walton wouldn't allow anything not American to sell in his stores.

his successors will not allow anything American to sell in their stores.

Thats the gist of it.

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  • 201 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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