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Wal-Mart Trims Forecast As Economy Restrains Shoppers

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http://www.bloomberg.com/news/2013-11-14/wal-mart-trims-forecast-as-economy-restrains-shoppers.html

Wal-Mart Stores Inc. (WMT), the world’s largest retailer, cut its annual profit forecast for the second time this year as the uneven economic recovery and increased competition from dollar stores hurt sales.

Profit per share in the year ending January 2014 will be $5.01 to $5.11, Bentonville, Arkansas-based Wal-Mart said today in a statement. That’s down from an August forecast of $5.10 to $5.30 and trailed analysts’ average estimate of $5.19. The company in February forecast profit of as much as $5.40.

Chief Executive Officer Mike Duke is trying to improve Wal-Mart’s grocery offerings and keep prices low to fend off dollar stores, all while consumers restrain spending because of persisting unemployment and higher taxes. Sales at Wal-Mart U.S. stores open at least 12 months excluding fuel fell 0.3 percent in the quarter ended Oct. 25. Analysts estimated they would be little changed.

Is this the uneven recovery where the rich get richer and poor get poorer? Although I'm sure all the high wages paid to their own employees will be helping to drive the American recovery....

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Is this the uneven recovery where the rich get richer and poor get poorer? Although I'm sure all the high wages paid to their own employees will be helping to drive the American recovery....

....to be honest it is not the supermarkets or airlines etc where there is still an open competitive market...that has to be a good thing. It is the monopolies, cartels or large corporations that work together to set the price of goods, services and living necessities that we have to pay for whether we like or not that is not good, not competitive, free or fair. ;)

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I read a couple of years back that one of the hedgefunds regularly rented a satellite to take pictures of Wal-mart car parks - which was one of the signals they were using to understand what was really happening in retail (in realtime)

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I read a couple of years back that one of the hedgefunds regularly rented a satellite to take pictures of Wal-mart car parks - which was one of the signals they were using to understand what was really happening in retail (in realtime)

Experian FootFall

Edited by Sancho Panza

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  • 405 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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