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

Discussion in 'Economics' started by bearice, Apr 28, 2011.

  1. With food prices rising, Duke said Wal-Mart is charging customers more for some fresh groceries while reducing prices on other merchandise such as electronics.

    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.

    Wal-Mart (WMT, Fortune 500), which averages 140 million shoppers weekly to its stores in the United States, is considered a barometer of the health of the consumer and the economy.

    To that end, Duke said he's not seeing signs of a recovery yet.

    "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."

    Wal-Mart shoppers, many of whom live paycheck to paycheck, typically shop in bulk at the beginning of the month when their paychecks come in.

    Lately, they're "running out of money" at a faster clip, he said.

    "Purchases are really dropping off by the end of the month even more than last year," Duke said. "This end-of-month [purchases] cycle is growing to be a concern.

    http://money.cnn.com/2011/04/27/news/companies/walmart_ceo_consumers_under_pressure/index.htm
     
  2. "Wal-Mart shoppers, many of whom live paycheck to paycheck, typically shop in bulk at the beginning of the month when their paychecks come in.

    Lately, they're "running out of money" at a faster clip, he said.

    "Purchases are really dropping off by the end of the month even more than last year," Duke said. "This end-of-month [purchases] cycle is growing to be a concern."

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    EOM cycle sounds to me like plenty of gov't checks and not what I'd call a paycheck.

    Secondly, I don't get the point. Who's he talking to? Shareholders? WS analysts? Business is bad?
     
  3. No wasteful consumption and savings is the best source of income and money. Example switch off refrigerator/fridge for 12 hours everyday.

    If old and scrap metals have re-sale value in your country then sell old metals (aluminium, steel, iron, copper others). Nobody knows what will happen tomorrow.

    Use old currency to buy daily essentails before the currency loses value and not accepted.

    Many products in your house has resale value. If you do not use them sell and earn money and create some space.

    Wasteful consumption results in high inflation ultimately.
     
  4. McDonalds receives 1 million applicants during April job fair.

    938,000 Applicants Turned Away From Employment At McDonalds.

    This goes to show you just how bad our economy really is. One million out of work US citizens all fighting for a crappy part time minimum wage job at McDonalds. Things are truly getting bad in this country.

    http://thewarningsigns.blogspot.com/2011/04/938000-applicants-turned-away-from.html
     
  5. Things are truly getting bad in this country.

    ------------------------------------------------------

    Na, the scum bag liberals like you will save the day. Oh yea, and the Ass Clown in Office will save the day.

    So, bring in Robbin Hood to steal from the wicked rich people. Raise the Tax base on those who make 250K (Small business owners for the most part) or more while your Scum Sucking Progressive Public Traded companies have tax shelters over seas.

    Yea, that's the ticket....You Parasites can pass an Equalization Law to make sure Wealth will be distributed evenly among all your free loading friends.

    Oh yea, you scum sucking Parasites will make all the Illegal Aliens Legal, to add to the army of Free loaders you champion so much.

    Of course, do not forget the HEALTH CARE system you Scum Sucking Parasites want to push.....drive those cost up on business except the 600 or so that are in bed with your Scum Sucking King and is Progressive ideas.


    Ohh my friend....you have not seen anything yet. The Show has just started.


    Oh well, who is John Galt?
     
  6. MWycliff

    MWycliff



    Things "are not getting bad". Things have been bad for the USA ever since the conservatives took over the US government and started borrowing money to spending it all on weapons that don't work in wars that have no ROI.

    One thing I have learned about those who quote or worship Ayn Rand, is that they are not very bright individuals. Greenspan was a Ayn Randian devotee. Not very bright.

    Another observation is that Ayn Randianism is utopian nonsense spouted primarily by Conservatives.
     
  7. The irony here...

    The current administration has taken deficit spending to new levels. Both administratons have done more than their share over the decades.

    I don't "worship" Rand by any means, but the line about Greenspan is way off-base. He was a devotee long before he became a Fed chairman. If he still believed in the gold standard, he wouldn't have taken that job. It shouldn't take an IQ above 60 to figure that one out.
     
  8. If Mcdonalds is getting 1 million applicants this means people are not interested in MBA, CA, computers and other so called skilled jobs. So this would mean trouble for world universities and colleges. Anyway, everybody knows what goes on in colleges.

    Forex trading is $ 4 Trillion per day and Forex traders does not need to be highly educated to earn good profits from Forex (correct me if I am wrong).
     
  9. Elder000

    Elder000

    Bearice you are WRONG :) :)

    Heh I am kidding a little, hey at least you are trying your best to understand this crazy world.

    If most people were as eager as you to figure things out, we would have a city on Mars by now.
     
    #10     Apr 29, 2011