Walmart: Our customers are running out of money

[RyanPsych]

NEW YORK (CNNMoney) -- 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. "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 cycle is growing to be a concern

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.

keep reading at: http://money.cnn.com/2011/04/27/news/companies/walmart_ceo_consumers_under_pressure/index.htm


Looks like the chickens have come home to roost

[bighughdiehl]

1. real headline:

Walmart finds self-made bed uncomfortable, requests bailout.
I wouldn't put it past the retail industry to get a bailout in a
year or two.

[roguevalley]

9. I hope they drown.

[Coyote_Bandit]

2. I know some Wal-Mart shoppers who are not so poor

They've cut back on the number of trips because the shelves aren't stocked and because they want to avoid the beggars in the parking lot.

Good for them.

[roguevalley]

10. this is important since Walmart is used by the government as an

economic indicator.

[Confusious]

3. Bound to happen eventually

Ship all the jobs to China and India, all you got left is that great "service economy" that pays 8.50 an hour.

Sooner or later, the lake runs out of water when you damn up the stream.

[EC]

4. They are really only blaming gas prices?

Unreal...how about out of unemployment,foodstamps or out of a job? How about not getting paid enough at the jobs they have?


They are only harping on gas prices because it is cutting into their profits.

[Sal Minella]

5. Right. The biggest employer in the country pays starvation wages

and then bitches because people don't have money to spend?

Ever see a guy standing on his own shoelaces, trying to walk?

Or, there's the old Jewish definition of chutzpah -- the kid who kills both of his parents and then stands in front of the judge and says, "Have mercy on me, I'm an orphan."

[IronicNews]

11. Here here!

[OffWithTheirHeads]

6. I, for the first time, shopped at Wally world since moving to Tucson.

Why? because they have some products that I would have to drive 20 or 30 miles to obtain elsewhere.

Having just retired, I now find myself with the time to bargain hunt. A luxury I simply was too tired to avail myself of when I was working. Here is the deal. If you have the time to shop price, Wally World is no bargain! You can find it cheaper elsewhere!






I think people have been programmed to think that the best deal is at Wally World and they are too tired or don't have the time to shop around but
I'm here to tell you, you are not being well served by the cheap Chinese junk shop. Better deals are out there.
You just have to look for them. Also, How does it help you to buy shit from the Chinese Communists? I've never figured that out.

Buy from your neighbors! They will buy from you.

[Lorien]

7. Walmart drives out businesses and then drives down wages

while forcing many manufacturers to ship jobs overseas-and NOW they're complaining? You reap what you sow.

[Sherman A1]

14. Agreed

[Me.]

8. Food Fight

Corp vs. Corp

[cutlassmama]

12. Customers may be running out of money OR CHOOSING not to shop there because

they've raised their prices. We can shop elsewhere for a lot cheaper (and do). That's what they get for raising their prices when people are hurting. They should be lowering them, not raising them.

[Incitatus]

13. You sent the money to China ,assholes. Open more stores there. nt

[blkmusclmachine]

15. Bailout for China-Mart in 3-2-1 ...

In a new Fed program called "No CEO Left Behind"

[Politicalboi]

16. Maybe less are going there

But hey I'm sure if this is true, our congress will fix it right up. Can't have Wal-Mart suffering after all. How would the Waltons survive. Good Night John Boy! LOL! I know a different Walton.

[donheld]

17. THEN PAY THEM MORE

sorry for shouting.