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

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    Dolphins9954's Avatar
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    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






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    MoFinz's Avatar
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    But raising taxes such a minimal amount wouldnt hurt the economy.....they said so.....

    And the butthurt will continue until morale improves


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    Just temporary...They depend heavily on IRS refunds...
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    Quote Originally Posted by DeathStar View Post
    Just temporary...They depend heavily on IRS refunds...
    EBT mostly. And that didn't help.
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    ohall's Avatar
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    Quote Originally Posted by DeathStar View Post
    Just temporary...They depend heavily on IRS refunds...
    Nonsense. If you are someone that is waiting on a IRS refund to buy things in February you can simply get advances on that return. How many years does this guy have to be President before it's actually his fault?
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    GoFins!'s Avatar
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    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."


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    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.
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    Me:

    Quote Originally Posted by DeathStar View Post
    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.
    Walmart CEO:

    "February sales got a slow start, “due in large part to the delay in income tax refunds,” said Wal-Mart U.S. Chief Executive Bill Simon in a statement. As a result, the division expects same store sales for the quarter ending on April 26 “to be around flat.”"
    For those that think (non talk radio listeners), it was pretty easy to see the issue...
    Last edited by DeathStar; 02-21-2013 at 10:58 PM.
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    Locke's Avatar
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    Quote Originally Posted by DeathStar View Post
    Me:



    Walmart CEO:



    For those that think (non talk radio listeners), it was pretty easy to see the issue...


    From the original article. Touche' Deathstar. Touche'...

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    Dolphins9954's Avatar
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    Quote Originally Posted by DeathStar View Post
    Me:



    Walmart CEO:



    For those that think (non talk radio listeners), it was pretty easy to see the issue...

    And even when income taxes do come in they still expect sales “to be around flat” for the first quarter ending in April 26. Pretty crazy considering all the money Wal-Mart makes from ebt and income taxes. Let's not forget the economy shrunk the last quarter and unemployment still continues to be high. Factor in high gas prices and inflation and it's quite possible we might see 2 quarters of negative gdp. All is not hunky dory with this economy. FAR from it.
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