Welcome to FinHeaven Fans Forums! We're glad to have you here. Please feel free to browse the forum. We'd like to invite you to join our community; doing so will enable you to view additional forums and post with our other members.



VIP Members don't see these ads. Join VIP Now
Page 1 of 2 12 LastLast
Results 1 to 10 of 18

Thread: Wal-Mart Executive: "Where are all the customers? And where’s their money?”

  1. -1
    Dolphins9954's Avatar
    Pro Bowler

    Status:
    Offline
    WPA:
    Join date:
    Apr 2005
    Posts:
    10,066
    vCash:
    6592
    Thanks / No Thanks

    Wal-Mart Executive: "Where are all the customers? And where’s their money?”

    Wal Mart had the worst sales start to a month in seven years as payroll-tax increases hit shoppers already battling a slow economy, according to internal e-mails obtained by Bloomberg News.

    “In case you haven’t seen a sales report these days, February MTD sales are a total disaster,” Jerry Murray, Wal-Mart’s vice president of finance and logistics, said in a Feb. 12 e-mail to other executives, referring to month-to-date sales.“The worst start to a month I have seen in my ~7 years with the company.”

    Wal-Mart and discounters such as Family Dollar Stores Inc. are bracing for a rise in the payroll tax to take a bigger bite from the paychecks of shoppers already dealing with elevated unemployment.

    The world’s largest retailer’s struggles come after executives expected a strong start to February because of the Super Bowl, milder weather and paycheck cycles, according to the minutes of a Feb. 1 officers meeting Bloomberg obtained.

    Murray’s comments about February sales follow disappointing results from January, a month that Cameron Geiger, senior vice president of Wal-Mart U.S. Replenishment, said he was relieved to see end, according to a separate internal e-mail obtained by Bloomberg News.

    “Have you ever had one of those weeks where your best-prepared plans weren’t good enough to accomplish everything you set out to do?” Geiger asked in a Feb. 1 e-mail to executives.“Well, we just had one of those weeks here at Walmart U.S. Where are all the customers? And where’s their money?”
    http://www.bloomberg.com/news/2013-0...n-e-mails.html






    "Politics is the Art of Looking for Trouble, Finding it Everywhere, Diagnosing it Incorrectly, and Applying the Wrong Remedies"
    Quote Quote  

  2. -2
    MoFinz's Avatar
    Uwe Von Schamann's Bastard Son

    Status:
    Offline
    WPA:
    Join date:
    May 2002
    Posts:
    3,052
    vCash:
    1016
    Thanks / No Thanks
    But raising taxes such a minimal amount wouldnt hurt the economy.....they said so.....

    And the butthurt will continue until morale improves


    Fat, drunk and stupid is no way to go through life
    Quote Quote  

  3. -3
    Hall Of Famer

    Status:
    Offline
    WPA:
    Join date:
    Nov 2004
    Posts:
    12,870
    vCash:
    7295
    Loc:
    Boca Raton
    Thanks / No Thanks
    Just temporary...They depend heavily on IRS refunds...
    Quote Quote  

  4. -4
    GoFins!'s Avatar
    Starter

    Status:
    Offline
    WPA:
    Join date:
    Feb 2008
    Posts:
    492
    vCash:
    1096
    Thanks / No Thanks
    IRS refunds wouldn't explain why this February is different than the past six.
    “I’m somewhat disappointed that more African Americans don’t think for themselves and just go with whatever they’re supposed to say and think."


    - Dr. Benjamin Carson
    Quote Quote  

  5. -5
    Dolphins9954's Avatar
    Pro Bowler

    Status:
    Offline
    WPA:
    Join date:
    Apr 2005
    Posts:
    10,066
    vCash:
    6592
    Thanks / No Thanks
    Quote Originally Posted by DeathStar View Post
    Just temporary...They depend heavily on IRS refunds...
    EBT mostly. And that didn't help.
    Quote Quote  

  6. -6
    Hall Of Famer

    Status:
    Offline
    WPA:
    Join date:
    Nov 2004
    Posts:
    12,870
    vCash:
    7295
    Loc:
    Boca Raton
    Thanks / No Thanks
    Quote Originally Posted by GoFins! View Post
    IRS refunds wouldn't explain why this February is different than the past six.
    IRS refunds were delayed by a week since returns were delayed...This email references the first 10 days of February...

    Walmart lives for free money refunds.
    Quote Quote  

  7. -7
    GoFins!'s Avatar
    Starter

    Status:
    Offline
    WPA:
    Join date:
    Feb 2008
    Posts:
    492
    vCash:
    1096
    Thanks / No Thanks
    If business picks up then you're right and it's as simple as IRS refunds. Can Walmart's disappointing January be blamed on late IRS refunds also?

    Show me that Walmart sales peak each year the first week tax refunds are available and I'll be less skeptical that the answer is so simple. Walmart sales have been down off and on for years - they dipped each quarter for the better part of two years before rising just over 2% the following year. It's easy to find what percentage their stock is down but I haven't been able to find what percentage their sales are down. We likely won't know first quarter numbers until May. It would be an interesting coincidence if their sales were down by the same percentage that everyone's withholding tax increased.

    2010 4th quarter, down 1.8%, 7th consecutive decline
    http://www.nytimes.com/2011/02/23/bu...my/23shop.html

    I'm jealous of you guys who get to shop at the EBT and IRS refund Walmarts where "The People of Walmart" shop. The Walmart near me is full or boring normal looking people. Am I not shopping there often enough or at the wrong times? Maybe I live too far out in the suburbs?
    Quote Quote  

  8. -8
    Eshlemon's Avatar
    FinHeaven VIP

    Status:
    Offline
    WPA:
    Join date:
    Jan 2004
    Posts:
    4,824
    vCash:
    1470
    Loc:
    Greensboro, NC
    Thanks / No Thanks
    Quote Originally Posted by GoFins! View Post
    If business picks up then you're right and it's as simple as IRS refunds. Can Walmart's disappointing January be blamed on late IRS refunds also?

    Show me that Walmart sales peak each year the first week tax refunds are available and I'll be less skeptical that the answer is so simple. Walmart sales have been down off and on for years - they dipped each quarter for the better part of two years before rising just over 2% the following year. It's easy to find what percentage their stock is down but I haven't been able to find what percentage their sales are down. We likely won't know first quarter numbers until May. It would be an interesting coincidence if their sales were down by the same percentage that everyone's withholding tax increased.

    2010 4th quarter, down 1.8%, 7th consecutive decline
    http://www.nytimes.com/2011/02/23/bu...my/23shop.html

    I'm jealous of you guys who get to shop at the EBT and IRS refund Walmarts where "The People of Walmart" shop. The Walmart near me is full or boring normal looking people. Am I not shopping there often enough or at the wrong times? Maybe I live too far out in the suburbs?
    Yes, nailing down correlations is difficult without more info. Over the last 2 years, as the article states Wallmart retail discount stores and others, like them the sales have been down so could be a correlation there to the payroll tax. And as budgets start to tighten again those retail discount stores could have been expecting a bump that hasn't happened yet.

    But also for Walmart Inc, while the discount store is down and even under-performing against the competition, Sam's Club has greatly outperformed. And definitely could see how a tax refund delay could have affected high volume wholesale store purchases...and a little panic since Sam's is the only thing driving companies growth...along with the high volume inventory buildup.

    http://www.walmartstores.com/sites/a...inancials.aspx
    Quote Quote  

  9. -9
    NY8123's Avatar
    Sophisticated Redneck

    Status:
    Offline
    WPA:
    Join date:
    Jan 2008
    Posts:
    11,653
    vCash:
    4873
    Loc:
    out in the Ding Weeds
    Thanks / No Thanks
    Wal-Mart can go **** themselves anyway, I avoid that place at all costs if I have the choice.
    Peace and Humptiness Forever


    Quote Quote  

  10. -10
    MoFinz's Avatar
    Uwe Von Schamann's Bastard Son

    Status:
    Offline
    WPA:
    Join date:
    May 2002
    Posts:
    3,052
    vCash:
    1016
    Thanks / No Thanks
    I don't mind WalMart....i hate that they kill mom n pops, but i love that they drive down prices.
    Now Sams club can suck donkey balls...i hate those cocksuckers and will never set foot in one. Had a bad experience just trying to buy a gift card for my Mother In Law.....I never thought i'd see a private business ran as inefficiently or incompetently as a government run office, but they took the cake
    Quote Quote  

Similar Threads

  1. Replies: 23
    Last Post: 03-20-2012, 03:14 PM
  2. "Wal-Mart of weed" set to open
    By BAMAPHIN 22 in forum The Lounge
    Replies: 3
    Last Post: 03-01-2011, 11:03 AM
  3. Replies: 157
    Last Post: 11-17-2010, 10:24 PM
  4. Wal-Mart: "Merry Christmas,
    By finataxia24 in forum Political | War Forum
    Replies: 0
    Last Post: 12-07-2009, 05:01 PM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •