Wal-Mart's warning to the world

[Crewleader]

Wed, Jul 9, 2014,

Wal-Mart's warning to the world

by Lawrence Lewitinn


The official unemployment rate is down. But, if you think that means more money in the hands of consumers to spend at stores such as Wal-Mart, guess again.

Wal-Mart U.S. CEO Bill Simon has remarked in interviews thatthe discount retailer isn’t seeing the gains in employment trickling down to the chain’s cash registers. Simon said to CNBC:

“I think the economic numbers – the unemployment numbers in particular – have been difficult to read with the number of people dropping out of the workforce. And I think it’s going to take a while – six months or more – for the numbers to balance out…. Hopefully after six years, we're starting to gain a little bit of traction and that traction is coming at the top end. I think the middle and down is still pretty challenged.”

http://finance.yahoo.com/blogs/talking-numbers/wal-mart-s-warning-to-the-world-180944134.html

[Scuba]

1. What? Trickle-down doesn't work? Who knew?

Oh yeah, everybody.

[femmocrat]

2. Or maybe people finally have enough made-in-China crap.

Sooner or later we will reach maximum capacity!

[rurallib]

3. or they are going to places that are even cheaper than WallyWorld

all those dollar stores.

[femmocrat]

6. True!

I used to actually like Dollar Tree when we had one here. Family Dollar, not so much.

[Crewleader]

11. Hi femmocrat

Last edited Wed Jul 9, 2014, 01:35 PM - Edit history (1)

China Crap indeed...I just watched the movie All Is Lost with Robert Redford, He's a resourceful sailor...while sleeping there was a collision with a shipping container and you guess it off those huge cargo ships from China, floating cheap sneakers everywhere.

I loved the movie and of course the actor, he's sure is a crusader for the environment and more. I recommend the movie.


Here's the movie clip:

http://www.fandango.com/movie-trailer/allislost-trailer/157825

[femmocrat]

12. Thanks for the link, Crewleader.

I'll look for it on Netflix. I love Robert Redford.

[mercuryblues]

4. more like

employees are paid such shitty wages they can't afford to shop at the store where they work. Walmart was also complaining a while back about lower sales....that coincided with the cuts to SNAP.

You have to pay employees enough to afford your product.

[dixiegrrrrl]

13. Plus the "increase in jobs" is not mentioning they are mostly low paying jobs

everyone is whooping it up over "lower un-employment" without noiticing that low paying jobs bring down the economy as much as no jobs.

[Demeter]

5. Walmart is not a reliable retailer

but who is, these days?

Stuff goes in and out of stock, or disappears altogether into the black hole. Displays can be great, or awful. The floor plan sucks.

Maybe it's just my area, but retail seems to be breaking down as an art form. And as we know: form follows function. When there's a function to follow.

[femmocrat]

7. They were putting up Back-to-School displays last week.

I was there looking for some cheap pool toys for the kids -- but they were NOT even marked down yet! LOL

Halloween candy will probably be out by Labor Day!

[Demeter]

8. I've seen Christmas in September. It will probably be August, this year

But it wasn't a Depression, not at all! Still isn't.

[OnlinePoker]

9. Walmart has been in Canada for 20 years

I have been in one once and will never shop there again.

[unblock]

10. wal-mart doens't benefit from lower unemployment as much as some companies because

as the unemployed get jobs (and hopefully, those with lousy jobs get better jobs and/or better pay), some mal-wart customers can afford to shop at better places.

they have a somewhat "recession-proof" business, which helps protect them as the economy tanks; but the flip side is that they don't benefit as much when the economy improves.